Astra Microwave Products Limited has confirmed that there has been no deviation or variation in the utilization of funds raised through a recent preferential issue for the quarter ended June 30, 2026. The company provided this confirmation in a statement detailing the use of proceeds against the objects stated in the original offer letter. A detailed statement outlining the allocation and utilization is attached.
Confirmation of Fund Utilization
Astra Microwave Products Limited has issued a statement to the stock exchanges confirming that the funds raised through its recent preferential issue have been utilized in line with the original objectives. For the quarter that concluded on June 30, 2026, the company has reported no deviation or variation in how these proceeds were allocated and spent, as per the terms outlined in the Preferential Issue’s Offer Letter.
Statement Details
The company’s confirmation addresses Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Attached is a statement that elaborates on the fund utilization. For the quarter ended June 30, 2026, the total issue size was INR 173.99 Crores. The company received 25% of this amount, totaling INR 43.49 Crores, as upfront consideration. This amount was fully utilized during the quarter ended September 30, 2025. No new proceeds were raised during the quarter ended June 30, 2026, as the warrant conversion option was not exercised by warrant holders.
Project Allocations
The original allocations for the raised funds were INR 130.50 Crores for meeting working capital requirements and INR 43.49 Crores for General Corporate Purposes (25%). The statement confirms that the utilization for the quarter aligns with these objects, with INR 40.00 Crores allocated to working capital and INR 3.49 Crores to general corporate purposes during the reporting period. A detailed table provided shows Nil deviation/variation for the quarter ending June 30, 2026.
Source: BSE
