Apollo Micro jumps 5% on Rs 1,550 cr Premier deal
Synopsis Apollo Micro Systems shares gained 5% after it sought to acquire Premier Explosives' promoters' stake for Rs 1,550 crore. This strategic acquisition aims to
Synopsis Apollo Micro Systems shares gained 5% after it sought to acquire Premier Explosives' promoters' stake for Rs 1,550 crore. This strategic acquisition aims to enhance capabilities in defence and aerospace sectors.
The transaction is expected to conclude by December 2026 after necessary approvals. Apollo Micro Systems will also make a mandatory open offer to public shareholders.
This move strengthens India's defence manufacturing and indigenous ecosystem.
The BriefWire