{"id":372794,"date":"2026-01-15T16:00:25","date_gmt":"2026-01-15T10:30:25","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=372794"},"modified":"2026-01-15T16:17:57","modified_gmt":"2026-01-15T10:47:57","slug":"shardul-amarchand-mangaldas-advises-aica-kogyo-acquisition-stylam-industries","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2026\/01\/15\/shardul-amarchand-mangaldas-advises-aica-kogyo-acquisition-stylam-industries\/","title":{"rendered":"Shardul Amarchand Mangaldas & Co. advises Aica Kogyo Company Limited on its USD 225 million acquisition of a controlling stake in Stylam Industries Limited, including a mandatory open offer to its public shareholders"},"content":{"rendered":"
\n

New Delhi | January 15 , 2026 :<\/span> Shardul Amarchand Mangaldas & Co. (“SAM”) advised Aica Kogyo Company, Limited (Japan) (“Aica”) on its USD 225 million<\/span> (approximately) acquisition of a controlling stake of upto 53.12%<\/span> in Stylam Industries Limited (“Stylam”), involving secondary purchases from existing promoters and a mandatory open offer to public shareholders under the SEBI Takeover Regulations.<\/p>\n

SAM advised Aica on the structuring of the transaction, analysis of regulatory matters pertaining to securities laws and regulations, analysis of implications under foreign exchange regulations, conducting legal due diligence, drafting, negotiating, and finalising the transaction documents and the open offer documentation, and coordination with the manager to the open offer and other advisors and stakeholders including offshore counsel and tax advisors.<\/p>\n

The SAM transaction team was led by Jamshed Bhumgara, Partner and Kaustubh Verma, Partner; and comprised Bharath Shridhar, Counsel; Shruti Khetan, Senior Associate; Ankit Parekh, Senior Associate; Sanjana Kumar, Senior Associate; Mahinder Udasi, Associate; Jay Sureka, Associate. The transaction team was supported by Yogesh Chande, Partner; Ashoo Gupta, Partner; Mukul Baveja, Partner; Shreya Jain, Partner; Atika Vaz, Partner; Pooja Ramchandani, Partner; Kriti Kaushik, Partner; Aman Singh Sethi, Partner; Preeti Kapany, Principal Associate; Suryansh Gupta, Principal Associate; Lipika Vinjamuri, Associate; Anushri Mandal, Associate; Eeshan Sonak, Associate; and Ojaswi Bhagat, Associate. Strategic advice on the overall transaction was provided by Akshay Chudasama, Managing Partner.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Shardul Amarchand Mangaldas advised Aica Kogyo Company, Limited on its USD 225 million acquisition of a controlling stake in Stylam Industries Limited, including a mandatory open offer under SEBI Takeover Regulations.<\/p>\n","protected":false},"author":67011,"featured_media":372803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45282,2],"tags":[96888,88702,96892,96891,96890,46701,96889],"class_list":["post-372794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law-firms-news","category-news","tag-aica-kogyo-acquisition","tag-controlling-stake","tag-foreign-exchange-regulations-ma","tag-sam-capital-markets-advisory","tag-sebi-takeover-regulations","tag-shardul-amarchand-mangaldas","tag-stylam-industries"],"yoast_head":"\nShardul Amarchand Mangaldas Advises Aica Kogyo on Stylam Industries Acquisition | SCC 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The transaction underscores SAM\u2019s depth in complex M&A and regulatory strategies.","rel":"","context":"In "Law Firms News"","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"SAM advises Groww on Fisdom Acquisition","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/11\/SAM-advises-Groww-on-Fisdom-Acquisition.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/11\/SAM-advises-Groww-on-Fisdom-Acquisition.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/11\/SAM-advises-Groww-on-Fisdom-Acquisition.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/11\/SAM-advises-Groww-on-Fisdom-Acquisition.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":295942,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/04\/sam-advises-warburg-pincus-on-acquisition-majority-stake-in-watertec-india-private-ltd\/","url_meta":{"origin":372794,"position":4},"title":"Shardul Amarchand Mangaldas & Co. advises Warburg Pincus on acquisition of majority stake in Watertec (India) Private Limited","author":"Bhumika Indulia","date":"July 4, 2023","format":false,"excerpt":"3 July 2023| New Delhi: Shardul Amarchand Mangaldas advised Warburg Pincus (\u201cAcquirer\u201d) on the acquisition of a majority stake in Watertec (India) Private Limited (\u201cCompany\u201d) from the existing shareholders of the Company. The date of closing the deal was 22 June 2023. The transaction team was led by Akshay Chudasama,\u2026","rel":"","context":"In "Law Firms News"","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"warburg","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/warburg.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/warburg.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/warburg.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/warburg.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":370102,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/12\/17\/shardul-amarchand-mangaldas-advises-tata-steel-thriveni-pellets-acquisition-2025\/","url_meta":{"origin":372794,"position":5},"title":"Shardul Amarchand Mangaldas advises Tata Steel Limited on its Acquisition of Stake in Thriveni Pellets Private Limited","author":"Editor","date":"December 17, 2025","format":false,"excerpt":"Shardul Amarchand Mangaldas advised Tata Steel Limited on its strategic acquisition of a 50.01% stake in Thriveni Pellets Private Limited, strengthening Tata Steel\u2019s long-term value creation strategy.","rel":"","context":"In "Law Firms News"","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"Shardul Amarchand Mangaldas Tata Steel Acquisition","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Shardul-Amarchand-Mangaldas-Tata-Steel-Acquisition.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Shardul-Amarchand-Mangaldas-Tata-Steel-Acquisition.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Shardul-Amarchand-Mangaldas-Tata-Steel-Acquisition.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/12\/Shardul-Amarchand-Mangaldas-Tata-Steel-Acquisition.webp?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/372794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=372794"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/372794\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/372803"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=372794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=372794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=372794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}