Announced Fri, 10 Jul · 08:11 IST
Apollo Micro Systems to acquire 26% in Premier Explosives via open offer at INR 698/share
PREMEXPLN · price
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Price reaction · full curve 14 horizons · vs prior close
-5.9%1-day move
₹714.00
prior close
₹720.00
base price
After-mkt
timing
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AI summary
Apollo Micro Systems has announced an open offer to buy up to 1.39 crore shares (26%) of Premier Explosives from public shareholders at INR 698 per share, worth up to INR 975.66 crores. This follows an SPA to acquire 2.22 crore shares (41.33%) from AKS Family Trust for INR 1,550 crores. Post deal, Apollo Micro Systems will become the promoter with up to 67.33% stake. No delisting planned. Detailed public statement expected by July 16, 2026.
Likely market impact
Open offer gives public shareholders a cash exit at INR 698 per share. Change of control to Apollo Micro Systems could lead to strategic shifts but no delisting planned.