M&A

M&A

Defence sector player Apollo Micro Systems acquires IDL Explosives for Rs.107-Cr

Economic Times   BSE Announcement   Apollo Defence Industries Pvt Ltd   IDL Explosives  

Hyderabad-based Apollo Defence Industries Pvt Ltd , a subsidiary of Apollo Micro Systems, is to acquire 100% stake in fellow Hyderabad-based defense and space manufacturing company IDL Explosives Ltd (subsidiary of GOCL corporation) for INR 107 crore.Through this acquisition Apollo will aim to integrate explosives into its defence manufacturing pipeline and expand its product portfolio. This also aligns with the company's vision to be a Tier-I OEM Weapon Systems Supplier.Founded in 2010, IDL Explosives makes and supplies bulk explosives used in mining and infrastructure projects.