Multibagger defence stock Apollo Micro Systems declares ₹951 crore fund raise via preferential shares

Apollo Micro Systems board approved raising over Rs 3,322 crore via preferential equity shares worth Rs 951 crore at Rs 416.60 per share and convertible warrants worth Rs 2,371 crore. The equity issue involves 55 investors including Tata Mutual Fund, Saint Capital Fund and several foreign funds, while the warrant issue covers 93 investors including promoters Chanakya and Kanishka Reddy Baddam. The company has rallied 130% in the past year and recently touched a high of Rs 466.70.