L&T Capital acquires 9.72% stake in Astra Microwave Products

L&T Capital has acquired 79.5 lakh equity shares constituting 9.72% stake in Astra Microwave Products through open market transaction.

As of June 2012, L&T Capital Company held 9.72% in the company. Strategic Ventures Fund (Mauritius), Skanda Aerospace, Reliance Capital Trustee and Reliance Capital along with other three investors held 34.35% stake. Promoters held 19.41% stake in the company.

Astra Microwave Products is engaged in designing and manufacturing of radio frequency (RF) and microwave super components and sub-systems that are used in areas of defence, space and civil communication systems. Presently company’s products are used in VSAT operations, radars, navigational equipment, public mobile trunk radio (PMTR), WLL, cellular GSM/DCS or PCS networks.