Astra Microwave carves out its space business for a separate listing
Shareholders get a 1:1 share swap in the new Astra Space Technologies, which had ₹157 crore in revenue last year.
— 3 earlier stories on Astra Microwave Products Ltd. →What's new
- Board approved demerging the space, meteorology and hydrology unit into Astra Space Technologies.
- Shareholders will receive one share in the new entity for every share held in the parent.
- The new company plans to list on the BSE and NSE, pending regulatory approvals.
Why this matters
The move creates two listed companies from one, letting investors value the space and defence business separately. The 1:1 swap ratio is the first concrete number for valuing the pieces. For a unit that is 13.58% of group revenue, the demerger is material.
What we're watching
- NCLT and regulatory approvals, which will set the final timeline.
- How the market values both entities once they are separate.
- Whether the new space-focused entity draws specialist investor interest.
The full read
Astra Microwave is splitting itself in two. Its board has approved a scheme to move the space, meteorology and hydrology business into a new subsidiary, Astra Space Technologies, which will list on the BSE and NSE. Shareholders get one share in the new entity for every share they hold in the parent. The demerged unit generated ₹157 crore in revenue last year, or 13.58% of the group total. The swap ratio gives the market a starting point for valuing the two pieces. This formalises an in-principle call from May, but the scheme details and the 1:1 exchange are new. The listing is still some way off, pending NCLT and regulator clearance.
Questions answered
- What does a shareholder receive from the demerger?
- For every one share of Astra Microwave held, the shareholder will receive one equity share in Astra Space Technologies. The swap ratio is 1:1.
- How large is the business being split off?
- The space, meteorology and hydrology unit had a turnover of ₹157 crore in the last financial year, which is 13.58% of Astra Microwave's total revenue.
- When will the new company be listed?
- The scheme still requires approvals from the National Company Law Tribunal, stock exchanges, and other regulators. No effective date has been announced.
- Is this a new decision?
- The board had given in-principle approval for a demerger in May. Today's filing formalises the specific scheme, the 1:1 swap ratio, and the regulatory pathway.
Story so far
All notes on ASTRAMICRO →- 10 Jun 2026 · 12:31 PM IST Astra Microwave carves out its space business for a separate listing
- 14d ago Astra Microwave cuts FY27 revenue guidance by 7%
- 15d ago Astra Microwave demerging space unit after a year of strong growth
- 15d ago Astra Microwave profit jumps 24% as Q4 momentum builds