Apollo Micro Systems acquires 41.33% stake in Premier Explosives
pre-market1 source ↓written by the desknot a recommendation
- in Premier Explosives
- 41.33% stake
- Explosives PEL
- ₹1,550 Cr
- initiating
- 26% open offer
- ₹698 per share
- leveraging PEL's
- ₹1,569 Cr order book
Apollo Micro Systems (AMS) has secured a 41.33% stake in Premier Explosives (PEL) for ₹1,550 Cr, initiating a 26% open offer at ₹698 per share. This acquisition aims to create a vertically integrated defense powerhouse, enhancing AMS’s capabilities in electronic systems alongside PEL’s solid propellant expertise. The deal is expected to significantly expand the consolidated revenue base, leveraging PEL's ₹1,569 Cr order book.
Not investment advice. For informational purposes only.