Apollo Micro Systems Open Offer for Premier Explosives - Letter of Offer Filed

Listed Co AcquisitionOpen Offer TriggeredStrategic Transactions View source PDF Explain this filing

APOLLO · price

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Price reaction · full curve 14 horizons · vs prior close

+3.4%1-day move

₹394.60

prior close

₹399.05

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AI summary

Apollo Micro Systems (Acquirer) has filed the Letter of Offer for an Open Offer to acquire up to 1,39,77,911 equity shares, equal to 26 percent of Premier Explosives Limited, from public shareholders. Offer price is INR 698 per share plus INR 7.65 interest, aggregating to about INR 986.35 crore in cash, under SEBI Takeover Regulations.

Likely market impact

Premier Explosives public shareholders can tender shares at INR 698 each. Signals Apollo Micro Systems acquisition intent of 26 percent stake.