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Stock Report
Apollo Micro Systems Successfully Completes Preferential Allotment
Posted On : 2025-06-03 14:46:03( TIMEZONE : IST )
Apollo Micro Systems Limited (BSE: 540879 | NSE: APOLLO), a leading technology-driven company in the aerospace, defense, and homeland security sectors, is pleased to announce the successful completion of its preferential allotment of equity shares and convertible warrants, raising a total of over ₹416 crore initially through strategic investments.
An additional ₹325.50 crore as 75% balance proceeds of the convertible equity warrants to come into the company within 6 months.
This capital infusion demonstrates robust investor confidence and includes meaningful participation from the promoter group, LIC Mutual Fund, and Non-Executive Director Mr. Aditya Kumar Halwasiya.
As part of the preferential issue:
- The promoter group has subscribed to 1,68,01,200 convertible equity warrants at an issue price of ₹114 each. These warrants, allotted equally between Mr. Baddam Kanishka Reddy and Mr. Baddam Chanakya Reddy, reaffirm the promoter family's strong commitment to the company's long-term growth and value creation.
- Mr. Aditya Kumar Halwasiya, Non-Executive Director, has also made a substantial investment, being allotted 15,00,000 equity shares and an additional 15,00,000 convertible equity warrants, reinforcing his strategic involvement and alignment with shareholder interests.
- LIC Mutual Fund, one of India's most respected institutional investors, participated with an allotment of 26,31,578 equity shares, adding further credibility and validation to Apollo's business outlook.
The preferential issue involved:
- 2,70,42,894 equity shares allotted at ₹114 each, aggregating to ₹308.28 crore.
- 3,80,67,058 convertible equity warrants issued at the same price, with 25% upfront subscription, aggregating to ₹108.49 crore in initial proceeds.
The capital raised will be deployed towards growth initiatives, working capital requirements, and strengthening the company's innovation capabilities in high-tech and mission-critical solutions.
