Nature of Disclosure: Regulatory filing under Regulation 30 of SEBI LODR Regulations regarding acquisition and mandatory open offer.

Key Transaction Details:

  • Apollo Micro Systems Limited (Acquirer) entered into a Share Purchase Agreement with Mrs. Shonika Prasad and Mrs. Kailash Gupta (as authorized trustees of AKS Family Trust, the Promoter) and Premier Explosives Limited
  • Acquisition of 2,22,21,735 equity shares representing 41.33% of issued, subscribed, and paid-up equity voting share capital
  • Purchase price: ₹698 per share
  • Transaction triggers mandatory open offer for up to 1,39,77,911 equity shares (26% of voting share capital) at ₹698 per share

Conditions and Approvals:

  • Transaction conditional upon receipt of mandatory regulatory and statutory clearances
  • Requires approval from Competition Commission of India (if applicable)
  • Subject to conditions precedent as stipulated in SPA
  • Completion of all compliance requirements under SEBI SAST Regulations

Financial Information of Target:

  • Turnover as on March 31, 2026: ₹38,834.14 Lakhs
  • Turnover as on March 31, 2025: ₹41,745.23 Lakhs
  • Turnover as on March 31, 2024: ₹27,171.67 Lakhs

Business Background:

  • Company incorporated on February 14, 1980 under Companies Act, 1956
  • Engaged in manufacturing solid propellants for missile programs and supplying countermeasure systems to Indian defense, aerospace, and mining sectors
  • Operations primarily in India

Strategic Rationale:

  • Acquisition aligns with Acquirer's long-term strategic objective to build integrated, end-to-end indigenous defense platforms ecosystem
  • Supports Government of India's Aatmanirbhar Bharat and Make in India initiatives

Transaction Structure:

  • Cash consideration via cheque or bank transfer
  • Not a related party transaction
  • No promoter/promoter group/group companies have any interest in the entity being acquired

Timeline:

  • Expected completion within 4-5 months
  • Open offer to be completed in accordance with SAST Regulations provisions

Board Meeting Details:

  • Meeting held on July 9, 2026
  • Commenced at 4:00 PM, concluded at 7:15 PM
  • Board took note of the executed Share Purchase Agreement

Regulatory References:

  • SEBI LODR Regulations, Regulation 30
  • SEBI SAST Regulations (Substantial Acquisition of Shares and Takeovers Regulations, 2011)
  • SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023
  • SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
  • SEBI circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

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