Astral Ltd Board Approves Composite Scheme of Arrangement
Astral Limited's board of directors has approved a composite scheme of arrangement involving the demerger of its chemicals business into Astral Chemie Limited and the amalgamation of Al-Aziz Plastics Private Limited into Astral Limited. The chemicals business undertaking, with assets and liabilities, will be transferred to Astral Chemie on a going concern basis. Al-Aziz Plastics will be amalgamated with Astral Limited and subsequently dissolved. The scheme is subject to approvals from NCLT, SEBI, stock exchanges, and other regulatory authorities, as well as shareholders and creditors. The demerged chemicals business had a turnover of ₹12,663 million for FY26, representing 21% of Astral Ltd's total turnover. Post-scheme, Astral Chemie will issue shares to Astral Ltd shareholders in a 1:1 ratio.
Key Highlights
- Board approved composite scheme of arrangement for demerger and amalgamation.
- Chemicals business demerged into Astral Chemie; Al-Aziz Plastics to merge with Astral Ltd.
- Scheme subject to NCLT, SEBI, stock exchange, and shareholder approvals.
- Demerged chemicals business turnover was ₹12,663 million (21% of total).
- Share exchange ratio for Astral Chemie is 1:1 for Astral Ltd shareholders.
Price Impact
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