The total equity stake of the company in Astral Coatings has increased from 80% to 100%
The Board of Directors of Astral Limited has approved the acquisition of remaining 20% equity shares of Astral Coatings Private Limited (Formerly Know Gem Paints Private Limited from existing shareholder at a consideration of Rs. 75 crores.
With this acquisition, the total equity stake of the company in Astral Coatings has increased from 80% to 100% making it a wholly owned subsidiary of the company.
Astral Coatings is a subsidiary of the company, involved in the business of the manufacturing, selling and distribution of paints, varnishes, coatings, products related to home decor, industrial paints etc.
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