Veteran investor Radhakishan Damani has re-entered Astra Microwave Products Ltd., participating in the company’s latest ₹174-crore fundraise via convertible warrants.
Key Investment Details
- Astra Microwave’s board has approved the allotment of 20.14 lakh convertible warrants at a subscription price of ₹864 per share, reflecting a 20.5% discount to the current market price.
- The warrants have a tenure of 18 months, allowing investors to convert them into equity shares within this period.
- Among key investors, Damani’s brother, Gopikishan Damani, has subscribed to ₹49.99 crore worth of warrants, translating to a 0.60% post-issue shareholding.
- Other major participants include Atim Kabra (₹49.99 crore) and Ratnabali Equity (₹24.99 crore), while promoter Renuka Chitrakar has invested ₹3.99 crore.
Astra Microwave’s Growth Outlook
The renewed investor interest comes as Astra Microwave projects 15–20% revenue growth in FY26, backed by a strong order book of ₹2,332 crore as of December 2024. The company anticipates a 20% expansion in orders, with an increasing share of high-margin domestic contracts.
Market Valuation & Investor Sentiment
- Astra Microwave’s stock is currently trading at a trailing price-to-earnings (P/E) ratio of 76x, above its three-year average of 63x.
- The warrant subscription price implies a lower multiple of around 61x, making it an attractive entry point for investors.
With strong growth projections and renewed investor confidence, Astra Microwave’s latest fundraise signals positive momentum for the company’s future.
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