Astra Microwave Products Limited has released the Monitoring Agency Report issued by CRISIL Ratings Limited regarding the utilization of proceeds from its ₹173.99 crore preferential issue. The report confirms that as of March 31, 2026, no proceeds were utilized during the quarter. The company has maintained its financial planning, with ₹130.50 crore still expected from warrant holders, whose conversion options remain open until December 29, 2026.
Utilization of Preferential Issue Proceeds
As per the latest update provided by the Monitoring Agency, Astra Microwave Products Limited has reported no utilization of its preferential issue proceeds during the quarter ended March 31, 2026. The total issue size stands at ₹173.99 crore, which is earmarked for working capital requirements (₹130.50 crore) and general corporate purposes (₹43.49 crore).
Current Status of Capital Inflow
The company successfully received ₹43.49 crore during the quarter ended June 30, 2025. The remaining balance of ₹130.50 crore is currently pending receipt from warrant holders. These investors retain the right to convert their warrants into equity shares within a period of 18 months from the date of allotment, with the final deadline set for December 29, 2026.
Financial Oversight and Compliance
The monitoring process, conducted by CRISIL Ratings Limited, has confirmed that there have been no deviations from the objects stated in the offer document. Furthermore, there are no material changes to the company’s financial plans or project viability, ensuring transparency for all stakeholders as the firm continues its operations in the Aerospace and Defense sector.
Source: BSE
