Other Deals - Listed Firms
Defence-tech player Apollo Micro Systems raises Rs.416-Cr through pref issue
BSE Announcement Business Line Apollo Micro Systems
Hyderabad-based, publicly listed aerospace and defence company Apollo Micro Systems has allotted equity shares and convertible warrants worth INR 416 crore on a preferential basis. The allotment included 2.70 crore equity shares issued at INR 114 each, aggregating to INR 308 crore and 3.80 crore convertible equity warrants issued at the same price with a 25% upfront subscription, aggregating to INR 108 crore.The capital infusion included participation from the promoter group (subscribed to 1.68 crore of convertible equity warrants), LIC Mutual Fund (subscribed to 26.31 lakh equity shares) and Non-Executive Director Aditya Kumar Halwasiya (acquired 15 lakh equity shares and 15 lakh convertible equity warrants).The capital raised will be used for working capital requirements, for strengthening the company’s innovation capabilities in high-tech and mission-critical solutions.Founded in 1985, Apollo Micro Systems is engaged in the design, development and assembly of custom built electronics and electro-mechanical solutions for aerospace, defense & space as primary customers. It also offers solutions for railways, automotive and homeland security markets.
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