Astra Microwave Plans Demerger of Space and Meteorology Business into Separate Entity
The stock price has given 65.8 per cent from its 52-week low of Rs 584 per share.
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Astra Microwave Products Ltd (AMPL) has received in-principle board approval to explore the demerger of its Space, Meteorology, and Hydrology business into a separate listed entity, Astra Space Technologies Private Limited (ASTPL).
Under the proposed restructuring, AMPL will focus exclusively on the Defence and Aerospace sectors, while the new entity, ASTPL, will handle the Space and Weather segments. ASTPL is expected to have a mirror shareholding structure with AMPL and aims to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The strategic rationale behind the demerger is to unlock shareholder value and enable sharper sector-specific growth strategies for both businesses. By separating the Space and Meteorology operations, the companies anticipate improved operational focus and more targeted investments in their respective domains.
The company targets completing the demerger and listing ASTPL by the first quarter of FY28, subject to all necessary regulatory and shareholder approvals.
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 stock price has given 65.8 per cent from its 52-week low of Rs 584 per share.
Disclaimer: The article is for informational purposes only and not investment advice.