Astral Limited Withdraws Composite Scheme of Arrangement After Independent Review
Astral Limited has decided to withdraw its proposed Composite Scheme of Arrangement after a comprehensive review by the Board, following recommendations from an independent consultant. The company confirmed that no further steps will be taken regarding the scheme.The decision follows previous disclosures made on June 25, 2026, and July 5, 2026, when the Board had decided to undertake a comprehensive independent review of the Composite Scheme of Arrangement. To facilitate this review, Astral appointed an Independent Consultant for the evaluation of the scheme and its recommendations to the Board.
The Independent Consultant analyzed the Composite Scheme in its current form and evaluated other restructuring options. The consultant subsequently recommended not proceeding with the Composite Scheme of Arrangement at present, citing concerns regarding the current scale of the Chemical Business.
After considering the feedback from the Independent Consultant, various stakeholders including shareholders, investors, and other market participants, alongside the prevailing business environment and the long-term strategic objectives of Astral Limited, the Board conducted a detailed review of the proposed scheme. The Board concluded that the Composite Scheme of Arrangement may not be in the best interests of the Company and its shareholders at this stage.
Accordingly, the company has decided to withdraw the Composite Scheme of Arrangement. Astral Limited affirmed its commitment to enhancing shareholder value and stated it will continue to evaluate various strategic initiatives aimed at the growth of its businesses.
ASTRAL Stock Price Movement
Astral Limited shares today edged higher by 0.19%, successfully settling at ₹1476.3 in the market close. The stock recorded a volume of 187,215 shares during the trading session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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