Astral Ltd shares fall nearly 6% following the company’s board approval of a restructuring plan that separates its chemicals business. Multiple reports say the chemicals segment is to be demerged into a newly incorporated entity, Astral Chemie. The scheme of arrangement also covers Astral Limited and Al-Aziz Plastics as part of the planned transactions, according to an exchange filing referenced by one outlet.
After the announcement and approval process, the stock trades lower and reaches a day low around Rs 1,389, with at least one report describing a drop of roughly 6% on Monday. NDTV similarly reports that the chemicals business is set to be listed separately, reflecting the demerger structure, and that Al-Aziz Plastics is brought into Astral as part of the broader restructuring.
Both accounts describe the same corporate actions—demerger into Astral Chemie and the inclusion/transfer of Astral Limited and Al-Aziz Plastics within the composite scheme—while the market reaction is characterized by a decline in the company’s share price immediately after the development.
