Mumbai, June 29 -- Under the scheme of arrangement, Astral will transfer the assets and liabilities of its chemicals business to Astral Chemie. The chemicals business, which manufactures adhesives, polyvinyl acetate (PVA), cyanoacrylates, solvent cements, silicone sealants, epoxy resins, construction chemicals, putties and allied products, recorded a turnover of Rs 1,266.3 crore in FY26, accounting for 21% of the company's total revenue.

Shareholders of Astral will receive one equity share of Astral Chemie with a face value of Re 1 for every one equity share of Astral held.

The company said the restructuring will enable the plumbing and chemicals businesses to operate independently allowing their respective management teams to pursue fo...