M&A

M&A

Apollo Micro Systems nears acquisition of Premier Explosives

Economic Times  

Hyderabad-based Apollo Micro Systems is nearing an agreement to acquire also Hyderabad-based Premier Explosives for a sum between Rs. 2,300-Cr and Rs. 2,500-Cr. The transaction includes an open offer to the minority shareholders of the target company.Premier Explosives manufactures explosives for defence and industrial applications, including TNT and propellants used in missiles. The company saw its promoters transfer a 40% stake to a trust that was previously held in their individual capacities.Apollo Micro Systems recently announced a fundraising of Rs.3,200-Cr through the issuance of shares and warrants to promoter and non-promoter entities. The company develops defence equipment, including naval mines and components for missile systems, to support domestic defence programmes.

For FY25, PremierExplosives had reported about INR 417 Cr in Operating Income and about INR 29 Cr in PAT.