Apollo Micro Systems raises Rs 308 crore via equity issue; promoters, board members participate
Apollo Micro Systems Limited has successfully concluded its preferential issue of equity shares and convertible warrants, raising a total of Rs 308.28 crore. In a communication to shareholders, Managing Director Karunakar Reddy expressed gratitude for the strong participation, terming it a 'pivotal moment' in the company's growth journey.
The company offered a total of 3.11 crore equity shares at an issue price of Rs 114 per share, of which 2.70 crore shares (86.94%) were subscribed, translating to an equity raise of Rs 308.28 crore. Additionally, it offered 3.80 crore convertible warrants, all of which were fully subscribed, generating an upfront payment of Rs 108.49 crore (25% of issue price).
Notably, key members of the company's leadership—including Whole Time Director (Operations) Addepalli Krishna Sai Kumar, Non-Executive Director Aditya Kumar Halwasiya, and CFO Sudarshan Chiluveru—participated in the issue alongside the promoter group. This move, the company said, reflects strong internal confidence in Apollo's long-term strategic vision.
The company now plans to accelerate execution across R&D, production, and delivery to meet growing demand in India's defence and aerospace sectors. Focus areas include ruggedised electronics, homing systems, and mission-critical subsystems.
Apollo reiterated its commitment to shareholders, stating it views their investment as a long-term partnership.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
a day ago
- Business Upturn
KPIT Technologies completes acquisition of Caresoft for $157 million
By Aditya Bhagchandani Published on August 16, 2025, 13:11 IST KPIT Technologies announced on Friday that it has completed the acquisition of Caresoft, finalizing the deal at a revised value of up to USD 157 million. The transaction covers Caresoft Global Technologies, Inc. USA, Caresoft Engineering Services Limited, UK, CAREGLOTECH de RL de CV Mexico, and OXI SRL Italy. The acquisition was first disclosed in May 2025 with an estimated deal size of USD 191 million. However, after negotiations and considering changes in the global business environment, the final consideration was reduced to USD 157 million, which also includes a USD 15 million variable pay component tied to revenue and business synergy milestones. Ahead of the completion, KPIT had infused EURO 28 million and USD 28 million into its UK and US subsidiaries, respectively, to strengthen the capital structure required for the acquisition. Following the satisfaction of all precedent conditions, KPIT Technologies (UK) Limited and KPIT Technologies Inc, USA have paid the initial consideration of USD 51 million to acquire full ownership of the Caresoft entities. This acquisition aligns with KPIT's strategy of strengthening its global presence in automotive engineering and expanding capabilities across the U.S., Europe, and Mexico. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
a day ago
- Business Upturn
Style Baazar opens new store in Assam, total count reaches 236
By Aditya Bhagchandani Published on August 16, 2025, 13:14 IST Baazar Style Retail Limited announced on Saturday that it has opened a new Style Baazar outlet in Bihpuria, Assam, further strengthening its retail presence in the Northeast. With this addition, the company's total store count has reached 236 across India. The announcement was made through a regulatory filing under SEBI's Listing Obligations and Disclosure Requirements, where the company confirmed the inauguration of the Assam store on August 16, 2025. The expansion reflects the retailer's continued strategy of scaling its footprint in Tier-II and Tier-III cities. Baazar Style Retail, listed on both BSE and NSE under the trading symbol STYLEBAAZA , operates a network of fashion and lifestyle stores catering to a broad customer base. The company has been gradually expanding its store network in emerging markets, focusing on affordability and accessibility for value-conscious consumers. With this latest launch, Style Baazar continues its growth trajectory in India's competitive retail sector, maintaining momentum as it eyes further regional expansions. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
CNBC
2 days ago
- CNBC
Fed should cut rates but they're weighing inflation more than employment, says Apollo's Torsten Slok
CNBC's Steve Liesman and Torsten Slok, Apollo partner and chief economist, join 'Closing Bell' to discuss the Federal Reserve's dual mandate, which part of that mandate the central bank is focused on and much more.
