Premier Explosives: Apollo Micro Systems Launches Open Offer

Apollo Micro Systems Limited has launched an Open Offer to acquire up to 1,39,77,911 equity shares of Premier Explosives Ltd, representing 26.00% of the total equity share capital. The offer price is INR 698 per share, with an additional INR 7.65 per share as applicable interest, totaling INR 986.35 Crore. Cumulative Capital Pvt Ltd is managing the open offer. This is a significant move by Apollo Micro Systems to increase its stake in Premier Explosives, following previous submissions regarding the offer.