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Stylam Industries Limited ( (IN:STYLAMIND) ) has shared an update.
Stylam Industries Limited has announced that members of the promoter and promoter group have entered into two separate share purchase agreements with Japan-based Aica Kogyo Company, Limited, under which Seller Group 1 will sell 45,96,768 equity shares representing 21.72% of the company’s paid-up share capital, and Seller Group 2 will sell up to 21,82,456 equity shares representing 12.88% of the paid-up share capital, both in two tranches. The board has also approved, and the parties have executed, a shareholders’ agreement to define management arrangements and inter se rights and obligations between the existing promoter group and Aica Kogyo, and, as a result of these transactions, the acquirer will be obligated to launch an open offer under SEBI takeover regulations, potentially leading to a significant change in the company’s ownership structure and influence over its strategic direction.
More about Stylam Industries Limited
Stylam Industries Limited is an India-based manufacturer operating in the decorative laminates and allied surfacing materials segment, serving both domestic and export markets from its facilities in Haryana and its registered office in Chandigarh. The company is recognized as a Government of India-certified Star Export House, underscoring its significant presence in international markets for its laminate and related products.
Average Trading Volume: 3,916
Technical Sentiment Signal: Strong Buy
Current Market Cap: 38.98B INR
Learn more about STYLAMIND stock on TipRanks’ Stock Analysis page.