ASTRAMICROAstra Microwave Products Ltd.
Astra Microwave Products gets BSE and NSE observation letters on space demerger
- Mergers & acquisitions
- Telecommunication - Equipment
Astra Microwave Products (NSE: ASTRAMICRO) has received observation letters from BSE with no adverse observations and from NSE with no objection on its draft scheme of arrangement, it said in a filing on 29 Oct 2026. The scheme demerges the company's space, meteorology and hydrology business into Astra Space Technologies Private Limited, and it remains subject to regulatory and other approvals.
What the letters allow and what they require
The letters are the exchanges' comments on the draft scheme under Sections 230 to 232 of the Companies Act, 2013. The observation letter is valid for six months from 29 Oct 2026, within which the scheme must be submitted to the NCLT. The exchanges say their letters are not approval of the scheme under any other Act or regulation and do not mean SEBI or the exchanges have cleared it.
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