Astra Microwave Products Limited has informed the Exchange regarding 'Outcome of the Meeting of Securities Allotment Committee of the Board of Directors- Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Allotment of 20,13,885 Convertible Warrants on preferential basis. '.
ASTRAMICRO · price
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Astra Microwave Products has allotted 20,13,885 convertible warrants at Rs. 864 per warrant on a preferential basis, taking the total issue size to about Rs. 174 crores. The warrants were issued to 6 allottees, including 1 promoter group member (Renuka Chitrakar) and 5 non-promoter investors such as Gopikishan Damani, Suresh Somani, Kalpesh Suresh Somani Family Benefit Trust, Atim Kabra, and Ratnabali Equity Pvt Ltd. Investors have paid 25% upfront (Rs. 216 per warrant, totalling Rs. 43.5 crores), with the remaining Rs. 648 per warrant (75%) due within 18 months upon conversion into equity shares of Rs. 2 face value. Each warrant is convertible into 1 equity share, carrying a premium of Rs. 862 per share.
There is no immediate change to the company's paid-up equity capital since these are warrants, not shares. If all warrants are converted within 18 months, the equity base will expand by about 20.14 lakh shares, which may dilute existing shareholders. The Rs. 43.5 crore upfront inflow strengthens near-term cash, but the full Rs. 174 crore depends on investors choosing to convert.