Astra Microwave board OKs raising upto Rs 400 cr

9 Dec 2022 , 03:28 PM

The compay plans to raise funds by issuing equity shares, Global Depository Receipts (GDRs), American Depository Receipts (ADRs), Foreign Currency Convertible Bonds (FCCBs) and / or other securities convertible into equity shares (including warrants, or otherwise), fully convertible debentures, partly convertible debentures, non-convertible debentures with or without warrants and/ or convertible preference shares or any security convertible into equity shares, or any combination thereof, in one or more tranches. The fund raising will be through public issue, preferential allotment, private placement, including one or more qualified institutional placement (QIP), or through any other permissible mode and/or combination thereof. Astra Microwave Products is engaged in the business of design, development and manufacture of sub-systems for radio frequency and microwave systems used in defense, space, meteorology and telecommunication. The companys consolidated net profit surged 507.1% to Rs 20.52 crore despite of 2.9% decline in net sales to Rs 174.69 crore in Q2 FY23 over Q2 FY22. The scrip shed 0.50% to Rs 320.70 on the BSE. Powered by Capital Market – Live News