Astra Microwave Products has announced a board meeting to consider issuing 20,13,885 warrants convertible into equity shares at Rs. 864 each on a preferential basis to promoters and non-promoters.

The company received in-principle approvals from both NSE and BSE for this issuance.

Internal controls will be strengthened to monitor trading by proposed allottees until allotment.

The capital raise aims to support business growth, with listing applications to follow post-allotment.