Astra Microwave Products: Stock Exchanges Approve Scheme of Arrangement

Astra Microwave Products Ltd has received observation letters with no adverse observations or objections from both BSE Limited and the National Stock Exchange of India Limited regarding its proposed Scheme of Arrangement. This scheme involves the demerger of the Space, Meteorology, and Hydrology business into a separate entity, Astra Space Technologies Private Limited. The company had previously received board approval for this demerger, which is subject to further regulatory and other necessary approvals. The stock exchanges' positive feedback is a crucial step forward in the demerger process.