Apollo Micro Systems has entered into a definitive Share Purchase Agreement to acquire a 41.33% stake in Premier Explosives for approximately ₹1,550 crore.
The deal, announced on Thursday, includes provisions for an open offer to acquire additional shares from minority shareholders, signaling a strategic push to consolidate India's defence supply chain capabilities.
The acquisition marks a significant diversification for Apollo Micro Systems, which has traditionally focused on electronic warfare and communication systems.
By moving into explosives manufacturing, the company aims to broaden its product portfolio and secure a larger share of the growing domestic defence market.
The transaction is subject to regulatory approvals and other customary closing conditions.
This move follows a period of heightened investor interest in Apollo Micro Systems.