Astral board reviews Composite Scheme and appoints advisor
Astral Limited's board approved an independent review of the Composite Scheme of Arrangement involving Astral Chemie Limited and Al-Aziz Plastics Private Limited following stakeholder feedback. The board appointed a Big Four or equivalent firm as an independent external advisor to evaluate the scheme and submit recommendations within 30 days. The board will consider these findings before deciding on the continuation, modification, or deferment of the scheme.
*this image is generated using AI for illustrative purposes only.
Astral Limited’s board has approved a comprehensive independent review of the Composite Scheme of Arrangement involving Astral Limited, Astral Chemie Limited, and Al-Aziz Plastics Private Limited following stakeholder feedback. The board initially approved the scheme under Sections 230 to 232 of the Companies Act, 2013 on June 25, 2026. The decision to review the scheme aims to address the feedback received from various stakeholders post the announcement.
The board has approved the appointment of any one of the Big Four or an equivalent firm as an independent external advisor. The advisor will undertake a comprehensive evaluation of the scheme and submit recommendations to the board within 30 days or as required to comply with applicable regulations.
Key Approvals
| Matter | Details |
|---|---|
| Scheme Review | Comprehensive independent review of the Composite Scheme of Arrangement |
| Advisor Appointment | Big Four or equivalent firm |
| Report Timeline | Within 30 days or as per regulations |
The board will consider the findings and recommendations of the independent external advisor before taking any final decision regarding the continuation, modification, deferment, or any other course of action in relation to the Composite Scheme of Arrangement. Astral Limited will make necessary disclosures to the stock exchanges in accordance with applicable laws and regulations as and when required.
Historical Stock Returns for Astral
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.65% | -2.76% | -13.13% | -8.52% | -11.19% | -13.09% |
What specific stakeholder concerns prompted the need for an independent review of the scheme?
How might the findings of the independent advisor influence the final structure of the Composite Scheme of Arrangement?
What are the potential market reactions if the scheme is significantly modified or deferred following the review?
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
