Astra Microwave Products Limited has received in-principle approval from its Board of Directors to explore the demerger of its Space, Meteorology and Hydrology business into a separate listed entity. The proposal, announced on 27 February 2026, is subject to further approvals and regulatory clearances.
According to a press release issued by the company, the proposed restructuring will result in two independently listed companies. Astra Microwave Products Limited will focus exclusively on the Defence and Aerospace sector, while Astra Space Technologies Private Limited (ASTPL) will house the Space, Meteorology and Hydrology businesses and is proposed to be listed on the BSE and the National Stock Exchange of India.
The company stated that the approval is in-principle and that the final decision on the proposed demerger, including its structure and share exchange ratio, will be taken by the Board after receipt of requisite reports and opinions. The Audit Committee will appoint a Registered Valuer to determine the share exchange ratio and to finalise the structure of the demerger, including identification of assets, liabilities, contracts and employees forming part of the Space, Meteorology and Hydrology business. The business will be transferred to ASTPL on a going-concern basis to ensure operational continuity.
The transaction will be implemented through a Scheme of Arrangement under applicable provisions of the Companies Act and SEBI regulations. Required approvals include final approval from the Board of Directors, shareholders and creditors, stock exchange approvals, sanction from the National Company Law Tribunal, and other regulatory clearances. The company aims to complete the demerger and list ASTPL by the first quarter of financial year 2027–28, subject to timely receipt of approvals. During the transition period, the company stated that there will be no interruption to business operations and no anticipated impact on employees, customers or partners.
Astra Microwave Products Limited was incorporated in 1991 and operates in RF, microwave and digital electronics. In the space segment, the company has executed cumulative orders exceeding INR 7.5 billion for the Indian Space Research Organisation across programmes including GSAT, RISAT, CARTOSAT, GISAT, IRNSS and NISAR, and has additional orders of INR 2.5 billion to be executed by financial year 2027–28. In the Meteorology and Hydrology segment, the company has executed contracts cumulatively exceeding INR 3.3 billion over the past 20 years and has an order book of INR 2.85 billion to be executed by financial year 2027–28.
