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Astral acquires 80% stake in Gem Paints

21 Oct 2023 Evaluate

Astral has completed the acquisition of 80% equity shares of Gem Paints (51% against redemption of Optionally Convertible Debentures amounting to Rs 194 crore towards First Tranche Acquisition and 29% equity shares of Gem Paints towards Second Tranche Acquisition). Balance 20% equity stake will be acquired by Astral over a period of 5 years, as per the Share Purchase Agreement entered between the Parties. 

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.


Astral Share Price

1612.85 34.05 (2.16%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Supreme Industries 3705.80
Astral 1612.85
Finolex Inds 174.70
Nilkamal 1320.05
Jain Irrigation Sys 33.05
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