{"id":39260,"date":"2022-04-30T13:53:34","date_gmt":"2022-04-30T08:23:34","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-astral-gem-paints\/"},"modified":"2022-04-30T13:53:34","modified_gmt":"2022-04-30T08:23:34","slug":"biz-astral-gem-paints","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-astral-gem-paints\/","title":{"rendered":"Astral to acquire 51 pc stake in Gem Paints for Rs 194 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2226978288\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Apr 30 (PTI) PVC pipes and plastic products maker Astral said it will acquire a majority 51 per cent stake in Gem Paints for Rs 194 crore, a move which will allow the Ahmedabad-based firm to expand its product portfolio into the paints segment.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1022489375\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Astral has entered into a definitive agreement with Gem Paints and its shareholders after the deal was approved by its board on Friday, it said in a regulatory filing.<\/p>\n<p> &#8220;Astral shall initially invest Rs. 194 Crores in Gem Paints Private Limited by subscribing to Optionally Convertible Debentures equivalent to the value of 51 per cent equity stake of Operating Paint business of Gem Paints,&#8221; it said, adding it will be an all-cash deal \t The balance 49 per cent equity stake will be acquired by Astral over a period of five years in tranches, as per the Share Purchase Agreement, it added.<\/p>\n<p> The operating paint business of Gem Paints is proposed to be demerged to a wholly-owned subsidiary &#8212; Esha Paints.<\/p><div class=\"trade-content_5\" id=\"trade-346780403\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;Upon the completion of the demerger, Astral will acquire 51 per cent equity shares of Esha Paints against the redemption of OCDs. The name of Esha Paints Private Limited is proposed to be changed to Gem Paints under the demerger scheme,&#8221; it said.<\/p>\n<p> The deal is expected to be completed upon completion of demerger tentatively by March 31, 2023, it added.<\/p>\n<p> Incorporated in January 1980, Gem Paints is in the business of manufacturing and supply of various types of paints, varnishes, coatings, products related to home decor and industrial paints.<\/p>\n<p> Its provisional turnover in FY 2021-22 stood at Rs 215 crore.<\/p>\n<p> Astral MD Sandeep Engineer said, &#8220;The acquisition of Gem Paints will be a good addition to the product portfolio in Astral Product Basket and I am confident that this will take Astral&#8217;s Brand value to new heights and build more confidence among Builders, Architects, Consultants, Dealers and Distributors of the company due to product synergy within the network.&#8221; \t Astral manufactures plumbing and drainage systems in CPVC, PVC and DWC categories. It is also one of the leading players in adhesive and sealant products in India and abroad.<\/p>\n<p> Astral entered the adhesives category in 2014 by acquiring UK-based Seal It Services Ltd and Resinova Chemie Limited (Kanpur).<\/p><div class=\"trade-content-10\" id=\"trade-3368807059\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> In FY 2020-21, Astral&#8217;s revenue was Rs 2,486.30 crore. PTI KRH  ABM ABM<\/p>\n<div class=\"trade-after-content\" id=\"trade-1240952129\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Apr 30 (PTI) PVC pipes and plastic products maker Astral said it will acquire a majority 51 per cent stake in Gem Paints for Rs 194 crore, a move which will allow the Ahmedabad-based firm to expand its product portfolio into the paints segment. Astral has entered into a definitive agreement with Gem [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-39260","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Astral to acquire 51 pc stake in Gem Paints for Rs 194 cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-astral-gem-paints\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Astral to acquire 51 pc stake in Gem Paints for Rs 194 cr\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Apr 30 (PTI) PVC pipes and plastic products maker Astral said it will acquire a majority 51 per cent stake in Gem Paints for Rs 194 crore, a move which will allow the Ahmedabad-based firm to expand its product portfolio into the paints segment. 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