Apollo Micro Systems: Open Offer for Premier Explosives Shares Approved
Apollo Micro Systems Ltd has received approval from SEBI to commence its open offer for Premier Explosives Limited. The offer aims to acquire up to 1,39,77,911 equity shares, representing 26.00% of the target company's capital, at a price of ₹698 per share. The tendering period can begin within twelve working days of receiving CCI approval. Payments to successful shareholders will be made within ten working days from the last tendering date, with interest applicable for any delays.
Key Highlights
- SEBI permits open offer commencement for Premier Explosives shares.
- Apollo Micro Systems to acquire 26% stake at ₹698 per share.
- Open offer targets 1,39,77,911 equity shares.
- Payment to shareholders within ten working days post-tendering.
- Interest applicable for delayed payments.
Price Impact
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