Astral has receives approval for the acquisition of 100% equity share capital of Al-Aziz Plastics (AL-AZIZ). Subsequently, the company has entered into Definitive Transaction Documents with the existing promoters and shareholders of the AL-AZIZ to acquire 100% equity share capital of the AL-AZIZ on fully diluted basis for a consideration of Rs 33.00 crore. Pursuant to completion of the said acquisition, the AL-AZIZ will become wholly owned subsidiary of the company. The transaction expected to be completed on or before June 30, 2025 subject to compliance of the conditions precedent as mentioned in the Transaction Documents. The Board of Directors of the Company at its Meeting held on April 17, 2025, has considered and approved the same.
The company’s key objective behind the said acquisition is to diversify its product range in plastic pipes and fittings and increase the capacities. (for water, gas, electrical and solar application). AL-AZIZ is engaged in the business of manufacture of electrofusion fittings, compression fittings, saddles, electrical fittings, Irrigation Sprinklers and Filters, solar fittings, and accessories for the distribution of water, gas, electricity and solar power for last more than 25 years.
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 | 3705.80 |
| Astral | 1612.85 |
| Finolex Inds | 174.70 |
| Nilkamal | 1320.05 |
| Jain Irrigation Sys | 33.05 |
| View more.. | |
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