Apollo Micro Systems Acquires 41.33% Stake in Premier Explosives Limited for INR 1,550 Crores
Apollo Micro Systems Limited has executed a Share Purchase Agreement (SPA) for the acquisition of equity shares in Premier Explosives Limited (PEL), a company involved in manufacturing solid propellants for missile programs and supplying countermeasure systems to Indian defense. The deal grants Apollo Micro Systems control over the Target Company, aligning with its long-term objective to build an integrated, end-to-end indigenous defense platforms ecosystem under the Aatmanirbhar Bharat and Make in India initiatives.The acquisition involves the purchase of 2,22,21,735 Equity Shares of PEL from its promoter shareholders for a consideration of INR 1,550.00 Crores. These shares represent 41.33% of the promoter's stake in the company.
In connection with the proposed acquisition, Apollo Micro Systems is required to make a mandatory open offer to the eligible public shareholders of PEL. This open offer aims for the acquisition of up to 26% of the fully diluted voting equity share capital of PEL from its public shareholders and has been set at INR 698 per equity share.
The completion of the transaction is conditional upon several statutory and regulatory clearances, including approval from the Competition Commission of India (CCI), compliance with the SEBI SAST Regulations, and fulfillment of all conditions precedent stipulated in the SPA. The indicative timeframe for completing this acquisition has been set at within 5 months.
Target Company Profile and Financials
Premier Explosives Limited is engaged in the specialized business of manufacturing solid propellants for missile programs and supplying countermeasure systems to the Indian defense sector. The company was incorporated on February 14, 1980, and holds operations in India.The transaction is noted as being conducted at arm's length, with no interest held by the promoter or promoter group in the entity being acquired.
A summary of Premier Explosives Limited’s financial details and operational scope are provided below:
| Particular | Details (as on March 31, 2026) |
|---|---|
| Net worth | 29,042.78 Million Rupees |
| Turnover | 38,834.14 Million Rupees |
| Total Assets | 48,315.16 Million Rupees |
PEL’s turnover figures for the last three years stand as follows:
| Financial Year End | Turnover (in Lakhs) |
|---|---|
| March 31, 2026 | 38,834.14 |
| March 31, 2025 | 41,745.23 |
| March 31, 2024 | 27,171.67 |
APOLLO Stock Price Movement
Apollo Micro Systems Limited finished the trading session on a high note, successfully gaining 1.97% to close at ₹398.30 today. The stock saw significant activity across its range, with a volume of 14.17 million shares traded between a low of ₹387.05 and a high of ₹401.15.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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