Announced Thu, 9 Jul · 19:48 IST
Apollo Micro Systems to acquire 41.33% in Premier Explosives for Rs 1,550 Cr
Board & Shareholder Meetings View source PDF
APOLLO · price
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Price reaction · full curve 14 horizons · vs prior close
+0.5%1-day move
₹401.15
prior close
₹413.00
base price
After-mkt
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AI summary
Apollo Micro Systems board approved acquiring 41.33% stake (2.22 crore shares) in Premier Explosives Limited from promoters for Rs 1,550 Crores in cash. PEL manufactures solid propellants for missiles and countermeasure systems for defense and aerospace. Apollo will make a mandatory open offer at Rs 698 per share for up to 26% from public, gaining control. PEL FY26 turnover was Rs 388 Cr. Subject to CCI and SEBI approvals, closing within 5 months.
Likely market impact
Major cash acquisition of Rs 1,550 Cr for Apollo; gains control of defense target with Rs 388 Cr turnover. Strategic boost, regulatory risks remain.