Apollo Micro Systems board OKs fund raising plan

The aerospace & defense company will issue 3,34,18,806 equity shares having face value of Re 1 each at a price of Rs 114 each including premium of Rs 113 per share, aggregating to Rs 380.97 crore on a preferential basis.

Further, the company will issue upto 3,81,67,059 convertible equity warrants, each convertible into, or exchangeable for, one equity share of face value Re 1 each within the period of 6 months, at a price of Rs 114 each aggregating upto Rs 435.10 crore.

Apollo Micro Systems is engaged in design, development and assembly of custom built electronics and electro-mechanical solutions. The company caters to aerospace, defense & space, railways, automotive and homeland security markets.

The company's consolidated net profit surged to Rs 15.70 crore in the quarter ended September 2024 from Rs 6.56 crore during the previous quarter ended September 2023. Sales rose 84.39% YoY to Rs 160.71 crore in Q2 FY25.

The counter slipped 6.17% to trade at Rs 121.60 on the BSE.