The acquisition involves the purchase of 2.22 crore equity shares of Premier Explosives with a face value of ₹2 each. Following the acquisition, Apollo Micro Systems will gain control of Premier Explosives.
As part of the transaction, Apollo Micro Systems will make a mandatory open offer to eligible public shareholders of Premier Explosives for acquiring up to 26% of the fully diluted voting equity share capital under the SEBI Substantial Acquisition of Shares and Takeovers Regulations.
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The transaction is subject to regulatory and statutory approvals, including clearance from the Competition Commission of India (CCI) and fulfilment of conditions under the SPA. The acquisition is expected to be completed within five months.
Premier Explosives is engaged in manufacturing solid propellants for missile programmes and supplying countermeasure systems to the Indian defence, aerospace and mining sectors.
Apollo Micro Systems said the acquisition is aligned with its objective of building an integrated, end-to-end indigenous defence platforms ecosystem under the Aatmanirbhar Bharat and Make in India initiatives. The acquisition will be funded through cash consideration. The open offer price has been fixed at ₹698 per equity share as per the SAST Regulations.
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Baddam Karunakar Reddy (Managing Director), Apollo Micro Systems Ltd, said, “This acquisition strengthens our nation’s defence manufacturing capability and deepens our sovereign expertise in energetic materials and space programmes. Together, we are better positioned to safeguard national security interests and support our armed forces with greater scale, resilience, and technological self-reliance.”
Premier Explosives reported a net worth of ₹290.43 crore, total assets of ₹483.15 crore and turnover of ₹388.34 crore for the year ended March 31, 2026.
Dr A N Gupta (Founder & Chairman), Premier Explosives Ltd, “Premier Explosives has built a distinguished legacy over the decades, and I am confident that, together, we can unlock new opportunities for innovation, technological excellence, and sustainable growth.
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The decision to bring Premier Explosives into the Apollo Micro Systems family reflects our shared vision of building a stronger, more integrated indigenous defence and aerospace ecosystem.”
Shares of Apollo Micro Systems Ltd ended 1.33% higher at ₹398.60 on the BSE, while shares of Premier Explosives Ltd closed 4.13% up at ₹714.75.
(Edited by : Jomy Jos Pullokaran)
First Published: Jul 9, 2026 8:20 PM IST
