Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI LODR Regulations ) read with Schedule III thereof, we wish to inform you that Apollo Defence Industries Private Limited ( ADIPL ), a subsidiary of Apollo Micro Systems Limited ( the Company ), has on 02nd May, 2025 executed a Share Purchase Agreement ("SPA") for the acquisition of 100% equity shareholding of IDL Explosives Limited ( Target Entity ).
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On the reaction day the stock moved 6.8 pts more than Nifty Microcap 250 and 6.0 pts more 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 Limited, through its subsidiary Apollo Defence Industries Private Limited (ADIPL), has signed a Share Purchase Agreement to acquire 100% of IDL Explosives Limited from GOCL Corporation Limited (Hinduja Group) for ₹107 crores in cash, at ₹136.04 per share for 78.65 lakh equity shares. IDL Explosives manufactures bulk explosives used in mining and infrastructure, reported FY24 turnover of ₹623 crores and net worth of ₹10 crores, and recorded revenues of ₹395 crores (FY22), ₹782 crores (FY23), and ₹623 crores (FY24). The acquisition is aimed at boosting Apollo's defence explosives manufacturing capabilities for artillery, missiles, and high-impact defence segments, aligning with its goal of becoming a Tier-I OEM Weapon Systems Supplier. The deal is expected to close within 2–3 months, subject to customary closing conditions and regulatory approvals.
This is a strategically significant, fully cash-funded acquisition that adds a revenue-generating explosives business (~₹600+ crores) to Apollo's defence portfolio and supports its expansion into the indigenous defence manufacturing opportunity. Shareholders may view this positively as it strengthens the company's long-term defence ambitions, though the small net worth relative to turnover and pending approvals introduce some execution risk.