Apollo Micro Systems, a leading technology-driven company in the aerospace, defence and homeland security sectors, has allotted equity shares and convertible warrants worth ₹416 crore on a preferential basis.

The company plans to raise another ₹325 crore, as 75 per cent of the balance proceeds of the convertible equity warrants will be received in 6 months.

The capital infusion demonstrates investors’ confidence and includes meaningful participation from the promoter group, LIC Mutual Fund and Non-Executive Director Aditya Kumar Halwasiya.

The promoter group has subscribed to 1.68 crore of convertible equity warrants at an issue price of ₹114 each. These warrants were allotted equally between Baddam Kanishka Reddy and Baddam Chanakya Reddy.

Aditya Kumar Halwasiya, Non-Executive Director, acquired 15 lakh equity shares and 15 lakh convertible equity warrants.

LIC Mutual Fund was allotted 26.31 lakh equity shares.

In total, 2.70 crore equity shares were allotted at Rs 114 each, aggregating ₹308 crore, and 3.80 crore convertible equity warrants were issued at the same price, with a 25 per cent upfront subscription, aggregating ₹108 crore in initial proceeds.

The capital raised will be deployed towards growth initiatives, working capital requirements and strengthening the company’s innovation capabilities in high-tech and mission-critical solutions, said the company.

Published on June 3, 2025