The Board of Directors of Apollo Micro Systems Limited accorded their approval to the proposal of acquiring the 51% equity shares of the Company Ananya SIP RF Technologies Private Limited at the price determined upon valuation in due course.
The acquisition will expand the business towards new technologies by establishing a RF & Microwave Design cum production facility along with integration facility.
Ananya SIP RF Technologies Private Limited was incorporated on 12th February, 2015 with main objects to carry on the business of Design, Development, Manufacturing, Servicing and supply of RF (Radio Frequency), Microwave components, subsystems and systems using conventional and LTCC (Low Temperature Co-fired Ceramic) Technology. System in Packaging and packing solutions, Digital and signal processing subsystems, Micro electro mechanical products, Sensors, Accelerometers, Opto electronic products, servo controllers and systems.
The existing promoters of M/s Ananya SIP RF Technologies Private Limited have expertise in RF & Microwave technologies.
Shares of Apollo Micro Systems Ltd was last trading in BSE at Rs.71.35 as compared to the previous close of Rs. 67.75. The total number of shares traded during the day was 8250 in over 161 trades.
The stock hit an intraday high of Rs. 71.65 and intraday low of 67.25. The net turnover during the day was Rs. 574303.