NewsJapan materials maker to buy 53% of Stylam Ind in ₹2,030 crore deal Agnidev Supantha Bhattacharyya2 min read26 Dec 2025, 11:14 PM ISTThe open offer, priced again at ₹2,250 per share, represents a 2% discount from the stock's closing price of ₹2,300.50 on Tuesday. SummaryThe move underscores a record year for Japanese inbound M&A in India as firms diversify capital away from China. In what has become the latest entry in a flurry of inbound Japanese deals into India, Aica Kogyo Co. is set to acquire up to 53.12% stake in Indian laminates firm Stylam Industries Ltd for up to ₹2,030 crore. Stylam Industries Ltd’s promoters will sell up to 40% of their stake to the Japanese materials manufacturing major Aica Kogyo Co. in two tranches, Stylam announced in a regulatory notice. Also Read | Japan seems to be betting on India—why the timing mattersThe first promoter group, comprising Pushpa, Dipti and Manav Gupta, will be offloading a total of 27.12% stake, or 45.96 lakh shares, while the second group, made up of Jagdish, Nidhi and Saru Gupta, will be selling another 2.182 million shares, worth a 12.88% stake in the company. Both groups will be selling their shares at ₹2,250 apiece, and in two tranches, which brings their total share sale value to ₹1,525 crore. It is important to note that the first agreement has triggered a mandatory open offer as per regulatory guidelines, with Aica Kogyo bidding to acquire up to 26% of the public float.
