Apollo Micro Systems agreed on 9 July to acquire a 41.33% controlling stake in Premier Explosives, a maker of solid propellants and explosives for defence, from its promoter family trust for ₹1,550 crore.
Why Apollo Micro Systems Limited is buying Premier Explosives Limited
Apollo said Premier's capabilities complement its defence electronics business, and on completion it will become Premier's promoter with sole control while the seller is reclassified as a public shareholder.
Deal terms and financing
The share purchase agreement covers 22,221,735 shares at about ₹697.52 each. Under India's takeover rules Apollo must offer to buy up to a further 26% from public shareholders at ₹698 a share in cash, an outlay of up to ₹975.66 crore if fully accepted.
Regulatory approvals and timing
SEBI cleared the offer letter in August, and the Competition Commission of India ruled on 22 September 2026 that the deal did not need its approval; the open offer's tendering schedule was still to be announced.
Market context
Premier Explosives reported FY26 turnover of about ₹388 crore. Apollo Micro Systems approached the CCI as a precaution, according to Angel One.
