Multibagger defence stock to raise ₹3,322 crore through fresh equity issuance

Apollo Micro Systems will raise around Rs 3,322 crore via a preferential issue comprising 2.28 crore equity shares (Rs 951.13 crore) and 5.69 crore convertible warrants (Rs 2,371.09 crore), allotted at Rs 416.60 per share/warrant to about 148 investors. Separately, the company has signed a share purchase agreement to acquire a 41.33 percent promoter stake in Premier Explosives in an all-cash deal of nearly Rs 1,550 crore, expected to close by Q3 FY27. The Premier Explosives acquisition will bolster Apollo Micro Systems' defence and aerospace capabilities in energetic materials, rocket motors, munitions, and countermeasures.