Apollo Micro Systems launches open offer for Premier Explosives at INR 698

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

PREMEXPLN · price

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Price reactionminutes from the announcement price · days from the prior close

-4.0%Reaction day

₹714.00

prior close

₹692.40

announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+1.4%-5.4% vs market

Chemicals & Petrochemicals peers, median of 192sector · industry level+0.8%-4.9% vs sector

On the reaction day the stock moved 5.4 pts less than Nifty Microcap 250 and 4.9 pts less than its Chemicals & Petrochemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

-4.0+1.4-5.4+0.8-4.9

Next day

-5.9+1.5-7.4+0.6-6.5

-6.4+0.5-6.9+0.3-6.7

-6.2+1.1-7.3+0.0-6.2

-6.7+0.7-7.3+0.4-7.1

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15d

-7.0+0.1-7.1-0.1-6.9

-9.1+3.5-12.6+1.9-11.1

-6.6+5.8-12.4+6.7-13.3

-3.9+2.4-6.3+2.8-6.7

UpDownMarket · Nifty Microcap 250Sector · Chemicals & Petrochemicals peers, median of 192Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Apollo Micro Systems to acquire up to 1.39 crore shares (26%) of Premier Explosives from public shareholders at INR 698 per share, totalling up to INR 975.66 crores in cash. This follows an SPA with AKS Family Trust to buy 2.22 crore shares (41.33%) at about INR 697.52 per share, valued at INR 1,550 crores. Post-deal, Apollo Micro Systems will hold up to 67.33% and become the new promoter. No delisting planned. Subject to CCI approval.

Likely market impact

Open offer at INR 698 gives public shareholders an exit option; change of control to Apollo Micro Systems as new promoter awaits CCI clearance.