New Delhi, Dec. 26 -- 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 Rs.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.

The 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 ...