Apollo Micro Systems Ltd Approved Shares & Warrants Allotment: A Significant Development for the Company and Investors
Apollo Micro Systems Ltd, a leading player in the Indian defence industry, has received in-principle approvals from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for a significant preferential allotment of shares and convertible equity warrants. This development is expected to have a positive impact on the company’s financials and provide a boost to its growth prospects.
As per the allotment, Apollo Micro Systems Ltd will issue 270.43 lakh equity shares at a price of ₹114 each, totaling ₹308.29 crore, to 53 non-promoter shareholders. Additionally, the company has allotted 380.67 lakh convertible equity warrants at the same price of ₹114 each, amounting to ₹108.49 crore, to 30 investors, including promoters and non-promoters. This significant preferential allotment is expected to strengthen the company’s financial position and provide a new impetus for growth.
The equity shares and convertible equity warrants will be issued to non-promoter shareholders, including institutional investors and high-net-worth individuals. The allotment is subject to the receipt of necessary approvals from the relevant regulatory authorities, including the Securities and Exchange Board of India (SEBI).
Apollo Micro Systems Ltd is a well-established company in the Indian defence industry, with a strong track record of delivering innovative and technologically advanced products and solutions. The company has a diverse product portfolio, including electronic warfare systems, radar systems, and communication systems, among others. With its strong presence in the defence sector, Apollo Micro Systems Ltd is well-positioned to benefit from the growing demand for defence-related products and services in India.
The company’s decision to issue shares and convertible equity warrants is a strategic move to raise capital and strengthen its financial position. The proceeds from the allotment will be used to fund the company’s growth plans, including expanding its product portfolio, investing in research and development, and strengthening its manufacturing capabilities.
Apollo Micro Systems Ltd has a strong track record of delivering growth and returns to its investors. The company has a multibagger track record, with its share price increasing by over 2250% in the past few years. With its strong financials and growth prospects, Apollo Micro Systems Ltd is an attractive investment opportunity for investors looking to benefit from the growth of the Indian defence industry.
In conclusion, the approval of the preferential allotment of shares and convertible equity warrants by Apollo Micro Systems Ltd is a significant development for the company and its investors. The allotment is expected to strengthen the company’s financial position and provide a new impetus for growth. With its strong track record of delivering growth and returns, Apollo Micro Systems Ltd is a company to watch in the Indian defence industry.
