Latest news with #KarunakarReddy
Business Upturn
5 days ago
- Business
- Business Upturn
Apollo Micro Systems raises Rs 308 crore via equity issue; promoters, board members participate
By Aditya Bhagchandani Published on June 4, 2025, 15:32 IST 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.
Hans India
31-05-2025
- Hans India
Man arrested for fraudulently grabbing land
ADILABAD: A man was arrested for fraudulently acquiring 25 acres by using fake dependent certificates. The case came to light after a complaint was filed with the district Superintendent of Police (SP). In 1954, the government allocated 25 acres in Kazjarl village to Ameenuddin Khan. Ameenuddin had only one daughter, and the land remained vacant for years. Former Talamadugu Sarpanch Karunakar Reddy allegedly conspired to forge a dependent certificate by falsely claiming Sheikh Latif as Ameenuddin's grandson. Using this fake certificate, the land was transferred to Sheikh Latif's name in 2005. Since the land was an assigned land, a No Objection Certificate (NOC) was obtained from the RDO in 2009. Within four days Karunakar Reddy registered the land in his own name. Sheikh Latif passed away in 2022, further complicating the case. The real heirs of Ameenuddin Khan approached the district SP, leading to an investigation. Adilabad Rural CI K Phanidhar confirmed that fake dependent certificates were used to illegally seize land. -District SP Akhil Mahajan took special initiative to curb land fraud. Authorities emphasised the need for thorough verification before issuing dependent certificates. -Karunakar Reddy was arrested and remanded. The real heirs currently reside in Subhash Nagar, Adilabad.
