SEBI Approves Open Offer Commencement for Premier Explosives

Premier Explosives Limited has received approval from SEBI to commence the open offer process initiated by Apollo Micro Systems Limited. The open offer is for acquiring up to 1,39,77,911 equity shares, representing 26.00% of the company's capital, at a price of ₹698 per share. SEBI has stipulated that the tendering period must begin no later than twelve working days from the receipt of approval from the Competition Commission of India. Payments to successful shareholders will be made within ten working days from the last date of the tendering period, with a 10% per annum interest applicable for any delays by the acquirer.