Astral shares fell nearly 6% on Monday after the company’s board approved the demerger of its chemicals business into a newly incorporated entity, Astral Chemie. According to an exchange filing, the Composite Scheme of Arrangement also includes Astral Limited and Al-Aziz Plastics. The stock hit a low of Rs 1,389 amid the development and approval process.
Astral shares fell nearly 6% on Monday after the company’s board approved the demerger of its chemicals business into a newly incorporated entity, Astral Chemie. According to an exchange filing, the Composite Scheme of Arrangement also includes Astral Limited and Al-Aziz Plastics. The stock hit a low of Rs 1,389 amid the development and approval process.
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The shares of Astral fell nearly 6% on Monday to the day’s low of Rs 1,389 after the board approved the demerger of its chemicals business into a newly incorporated entity, Astral Chemie, according to an exchange filing.The filing stated: “After considering the recommendations and reports of the Audit Committee and the Committee of Independent Directors, and after due deliberations, the Board has approved the Composite Scheme of Arrangement amongst Astral Limited (‘Demerged Company’/‘Transferee…
