Apollo Micro Systems Limited has informed the Exchange regarding Outcome of Board Meeting held on Jun 02, 2025.
APOLLO · price
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On the reaction day the stock moved 0.5 pts more than Nifty Microcap 250 and 0.6 pts less than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Apollo Micro Systems has allotted 2,70,42,894 equity shares at Rs. 114 each (including a Rs. 113 premium), raising about Rs. 308.29 crore from 53 non-promoter allottees. In addition, it allotted 3,80,67,058 convertible warrants at Rs. 114 each to promoter group members and 28 other non-promoter entities, with 25% (Rs. 28.50 per warrant) already received and the balance 75% payable within 6 months on conversion. Notable equity allottees include LIC Mutual Fund (26.31 lakh shares), Zeal Global Opportunities Fund, MGO High Conviction Fund, Nova Global Opportunities Fund, Minerva Ventures Fund, and Al Maha Investment Fund. Among warrant allottees, Ebisu Global Opportunities Fund took the largest chunk at 1 crore warrants, while promoter group members Baddam Kanishka Reddy and Baddam Chanakya Reddy received 84 lakh warrants each. The combined preferential issue aggregates to roughly Rs. 416.78 crore at full conversion.
The fund raise strengthens Apollo Micro Systems' capital base and signals confidence from marquee institutional and foreign investors, which is typically viewed positively. However, the preferential issue will lead to equity dilution for existing shareholders, and the stock may see some near-term pressure depending on how the market price compares to the Rs. 114 issue price.