Astral Poly to acquire balance 24% stake in Resinova Chemie for Rs 73 crore

Astral Ltd. | Plastic Products | Chemicals & Fertilizers | BSE: 532830 | NSE: ASTRAL

18 Sep 2015 Evaluate

Astral Poly Technik has received an approval for acquisition of balance 24% of equity share capital of Resinova Chemie (a subsidiary of the company) at a value of Rs 73 crore from Vijay Parikh. Post-acquisition, Resinova Chemie shall become a wholly owned subsidiary of the company.

Astral Poly Technik manufactures plumbing systems for residential and industrial applications. Astral is equipped with state of art production facilities at Ahmadabad and Himachal Pradesh to manufacture plumbing systems from 1/2” to 6” with all kinds of necessary fittings.

Peers

Company Name	CMP
Supreme Industries	3465.50
Polyplex Corporation	1083.20
Astral	1390.05
Jain Irrigation Sys	29.01
Time Technoplast	180.45
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