Date: 21st August 2026
Acquisition Update
Apollo Micro Systems Limited provides an update regarding its open offer for acquisition of shares in Premier Explosives Limited (Target Company).
The Manager to the Open Offer has received a letter dated August 21, 2026 from SEBI in relation to the open offer under Regulation 3(1) and 4 and other applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Offer Details:
- Target Company: Premier Explosives Limited
- Number of shares: Up to 1,39,77,911 fully paid-up equity shares
- Face value: INR 2/- per share
- Percentage stake: 26.00% of the Equity Share Capital of Premier Explosives Limited
- Offer price: INR 698/- per equity share
SEBI Requirements:
- The tendering period for the Open Offer must commence not later than twelve working days from receipt of the approval of the Competition Commission of India
- Payment to all successful public shareholders who tender their Equity Shares must be made within ten working days from the last date of the tendering period
- If payment is delayed, the Acquirer must pay interest at the rate of ten percent per annum for the delay period