Astra Microwave Products Limited has informed the Exchange regarding 'Certificate from Statutory Auditor in terms of Regulation 169(4) & (5) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2018 '.
ASTRAMICRO · price
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Astra Microwave Products has received a certificate from its statutory auditor, Price Waterhouse Chartered Accountants LLP, confirming that the company received the 25% upfront payment for a preferential allotment of 20,13,885 convertible warrants. Each warrant has a face value of Rs. 2 and a conversion price of Rs. 864, taking the total issue size to about Rs. 174 crore, with Rs. 43.5 crore paid upfront. The warrants can be converted into one equity share each within 18 months. Allotments were made on June 30, 2025 to six allottees, including promoter Renuka Chitrakar, non-promoter investors like Gopikishan Shivkishan Damani, Suresh Kumar Somani, Atim Kabra, Ratnabali Equity Pvt Ltd, and the Kalpesh Suresh Somani Family Benefit Trust. The funds were received into the company's bank account on June 23–24, 2025, and the Securities Allotment Committee approved the allotment on June 30, 2025.
The preferential issue to promoters and select non-promoter investors signals confidence in the company's prospects and brings in fresh capital of about Rs. 174 crore once warrants are fully converted. Existing shareholders may see some dilution when warrants are exercised, but the upfront payment strengthens the company's cash position immediately.