Apollo Micro Systems Launches Open Offer for Premier Explosives Shareholders
Apollo Micro Systems Limited has initiated a mandatory Open Offer targeting shareholders of Premier Explosives Limited. The offer is designed to acquire up to 139,77,911 equity shares representing 26.00% of the Target Company's Equity Share Capital at an offer price of INR 698 per share.The Acquirer, Apollo Micro Systems Limited, announced that it intends to purchase a maximum of 139,77,911 fully paid-up equity shares of Premier Explosives Limited (Target Company). The Open Offer is set at a price of INR 698 per Equity Share, with the total consideration for this tranche reaching up to INR 975,65,81,878. The payment method for the acquisition will be cash.
The launch of the Open Offer follows an underlying transaction—a share purchase agreement (SPA) executed on July 9, 2026, between the Acquirer and AKS Family Trust. Under this SPA, Apollo Micro Systems Limited agreed to acquire a total of 2,22,21,735 Equity Shares for a consideration aggregating to INR 1,550,00,00,000. This acquisition accounts for 41.33% of the Target Company’s equity capital and was completed in cash.
Transaction Details and Stakeholder Positions
The underlying transaction involves Apollo Micro Systems Limited acquiring a substantial stake from AKS Family Trust, which currently holds 2,22,21,735 Equity Shares, representing 41.33% of the Target Company's equity.A summary of the acquisition in the Share Purchase Agreement is provided below:
| Details | Type of Transaction | Shares Acquired | Percentage of Total Capital | Consideration (INR) | Mode of Payment |
|---|---|---|---|---|---|
| Acquirer | Direct | 2,22,21,735 | 41.33% | 1,550,00,00,000 | Cash |
Acquirer's Shareholding Profile
The acquisition of shares by Apollo Micro Systems Limited prior to the Open Offer has established a significant pre-transaction stake in Premier Explosives Limited. Following both the underlying transaction and the potential full acceptance of the Open Offer, the proposed total shareholding for Apollo Micro Systems Limited is anticipated to be up to 67.33% of the Equity Share Capital.Key details regarding the Acquirer and Target Company are summarized below:
| Details | Premier Explosives Limited (Target Company) |
|---|---|
| Registered Office | Premier House, 11, Ishaq Colony, near AOCCentre, Trimulgherry, Secunderabad, Telangana - 500015 |
| Exchanges Listed On | BSE Limited and National Stock Exchange of India Limited |
| Acquirer Name | Apollo Micro Systems Limited |
The Open Offer is not conditional upon any minimum level of acceptance. Further comprehensive details regarding the offer will be provided in the Detailed Public Statement (DPS), which is scheduled for issuance on or before July 16, 2026.
PREMEXPLN Stock Price Movement
Premier Explosives Limited saw its shares rally on Thursday, closing at ₹714 after edging higher by 4.17%. The stock traded robustly throughout the session, with over 1.4 million shares transacted as the equity briefly touched a high of ₹739.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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