Announced Thu, 9 Jul · 19:50 IST
Apollo Micro Systems to acquire 41.33% in Premier Explosives; open offer at INR 698
PREMEXPLN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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 will acquire 2.22 crore shares (41.33%) of Premier Explosives from promoters at INR 698 per share, triggering a mandatory open offer for up to 26% more shares at the same price. Premier Explosives manufactures solid propellants for missiles and countermeasure systems for defence and mining. FY26 turnover was INR 388.34 crore. The deal is all cash, subject to regulatory approvals, with completion expected in 4-5 months.
Likely market impact
Change of control at INR 698 per share. Public holders can tender shares in the open offer. Stock may trade near the offer price.