Astral has received approval to purchase additional 15% equity shares of Seal IT Services, UK (Subsidiary of the Company) from existing shareholder at a consideration of British pound sterling 52,50,000 (equivalent to around Rs 48 crore). The Company has also executed Share Purchase agreement for the said purchase of additional shares. With this acquisition, the total equity stake of the Company in Seal IT Services, UK has increased from 80% to 95%. The board of directors at its meeting held on September 15, 2022 has approved the same.
Astral is among the country’s leading manufacturers of plastic pipes used across the industries and is now making strong inroads into the adhesives segment and infrastructure products.
Company Name | CMP |
---|---|
Supreme Industries | 5596.00 |
Astral | 2193.30 |
Finolex Inds | 297.30 |
EPL | 197.60 |
Jain Irrigation Sys | 69.43 |
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