Apollo Micro Systems rises 5% after signing Rs 1,550 crore deal for 41.33% of Premier Explosives
AI Market Summary
Apollo Micro Systems shares rose after it agreed to acquire the promoters' 41.33% stake in Premier Explosives for Rs 1,550 crore in cash and launch a mandatory open offer for up to 26% more. The deal signals consolidation across India's defence and aerospace supply chain by combining defence systems with high-energy materials capabilities, though completion is contingent on regulatory approvals and a long closing timeline to December 2026.
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Apollo Micro Systems said it has signed an agreement to buy Premier Explosives’ promoters’ 41.33% stake in an all-cash transaction valued at around Rs 1,550 crore. The company will also launch a mandatory open offer to acquire up to 26% of Premier Explosives’ fully diluted voting equity share capital from eligible public shareholders. The deal is expected to close in the quarter ending December 2026, subject to approvals including clearance from the Competition Commission of India (CCI). The announcement pushed Apollo Micro Systems shares up 5% to Rs 418.
