Premier Explosives: Apollo Micro Systems to acquire 41.33% stake

Premier Explosives Limited announced that its Board of Directors has taken note of a Share Purchase Agreement (SPA) where Apollo Micro Systems Limited will acquire 2,22,21,735 equity shares, representing 41.33% of the company's voting share capital, from the Promoter (AKS Family Trust). The acquisition is subject to regulatory approvals, including from the Competition Commission of India. The SPA execution triggers a mandatory open offer by Apollo Micro Systems to acquire up to 26% of the fully diluted voting equity share capital from public shareholders at INR 698 per share. The acquisition is part of Apollo Micro Systems' strategy to build an integrated defense platforms ecosystem. The transaction is expected to be completed within 4-5 months.