Astra Microwave Products Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on Jun 13, 2025
ASTRAMICRO · price
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Awaiting price reaction for this filing.
Astra Microwave Products held an Extraordinary General Meeting (EGM) on June 13, 2025, where shareholders approved a Special Resolution to issue up to 20,13,885 convertible warrants of Rs. 2 face value each on a preferential basis to members of the promoter group and non-promoter category. Each warrant can be converted into one equity share of Rs. 2 face value within 18 months. The resolution passed with overwhelming support: 96.26% of votes polled were in favour (6.39 crore shares) while only 3.74% voted against (24.8 lakh shares). Overall voting participation stood at 69.87% of outstanding shares, with promoter group votes (62.05 lakh shares) unanimously in favour. The scrutinizer was L. Dhanamjay Reddy of L.D. Reddy & Co. Since the promoter group was interested in the resolution, this constitutes a related-party preferential issuance.
If all warrants are converted, the company's share count will rise by roughly 20.14 lakh shares, causing some dilution for existing non-promoter shareholders. The high vote in favour (96.26%) and promoter group support suggest strong shareholder backing for the fundraising, though investors should watch for the final issue price and stated purpose of the capital raise.