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Stylam Industries Limited ( (IN:STYLAMIND) ) has issued an announcement.
Stylam Industries has disclosed that two promoter groups have entered into definitive share purchase agreements with Japan-based Aica Kogyo Company, Limited for the sale of a combined 34.6% of the company’s equity share capital, to be executed in two tranches. In parallel, the board approved, and the parties executed, a new shareholders’ agreement between the existing promoter group and Aica Kogyo to govern future management and inter se rights, with the transactions triggering a mandatory open offer under Indian takeover regulations, potentially leading to a significant shift in ownership structure and strategic control for existing shareholders and stakeholders.
More about Stylam Industries Limited
Stylam Industries Limited is an India-based manufacturer, recognized as a Government of India star export house, with production facilities in Haryana and a registered office in Chandigarh. The company operates in the laminates and allied surface materials space, supplying products to domestic and international markets through its industrial units in Panchkula and surrounding areas.
Average Trading Volume: 3,916
Technical Sentiment Signal: Strong Buy
Current Market Cap: 38.98B INR
For a thorough assessment of STYLAMIND stock, go to TipRanks’ Stock Analysis page.