The Board of Directors of Astral Limited has considered and approved the proposal for acquisition of 80% equity share and further invest up to Rs. 120 crores over period of time in Nexelon Chem. 

Nexelon was incorporated on 31st July 2023 under the Companies Act 2013, with an object for carrying out the business of manufacturing of chemicals and chemicals products. 

Further, the company is in process to set up manufacturing unit to manufacture CPVC resin which the main raw materials of the company and the revenue generation is yet to commence.