Announced Fri, 10 Jul · 11:50 IST
Apollo Micro Systems to acquire 41.33% stake in Premier Explosives for Rs 1550 Cr
PREMEXPLN · price
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Price reaction · full curve 14 horizons · vs prior close
-5.9%1-day move
₹714.00
prior close
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AI summary
Apollo Micro Systems Ltd will acquire 41.33 percent promoter shares of Premier Explosives Ltd from the AKS Family Trust for about Rs 1,550 crore in an all-cash deal. Premier Explosives makes high energy materials and rocket motors for defence and aerospace. The deal is expected to close by December 2026, subject to regulatory and shareholder approvals. Premier Explosives will retain its brand under Apollo's umbrella.
Likely market impact
Promoter exit at high valuation. Signals consolidation in India's defence manufacturing. Likely open offer trigger for minority shareholders.