Khaitan & Co advises Astral on acquisition of Al-Aziz Plastics

Khaitan & Co advised Astral Limited in relation to acquisition of 100% of issued and paid-up share capital of Al-Aziz Plastics Limited from its shareholders.

The Firm role included: (i) acting as legal counsel to Astral for the overall transaction (including negotiating, drafting and reviewing the definitive agreements); (ii) undertaking due diligence on Al-Aziz Plastics; and (iii) assisting with execution of the transaction documents.

The transaction team consisted of Anand Mehta (Partner), Bhavya Bhankharia (Principal Associate), Utsav Mitra (Senior Associate), Alankrita Singh (Associate) and Khushi Sharma (Associate) with assistance from the following:

Devendra Deshmukh (Partner), Ekta Sawant (Principal Associate) and Murugaveni Pillai (Senior Associate).

On April 17, 2025, Astral Limited approved the acquisition of 100% equity share capital of Al-Aziz Plastics Private Limited for a cash consideration of ₹33 crore (INR 330 million). Al-Aziz Plastics, established over 25 years ago, specializes in manufacturing electrofusion fittings, compression fittings, saddles, electrical fittings, irrigation sprinklers and filters, solar fittings, and accessories for the distribution of water, gas, electricity, and solar power. For the fiscal year ending March 31, 2025, the company reported total revenue of ₹51.5 crore and an EBITDA of ₹9.67 crore.

Established in 1998, Astral Limited manufactures polymer piping systems for domestic and industrial applications. Known for introducing CPVC piping for the first time in India, Astral introduced a wide range of products in the Pipes category and at the same time diversified successfully into other business categories within the Building Materials industry.

This acquisition is part of Astral's strategy to expand its product offerings and strengthen its position in the plastics market.

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