Premier Explosives sells 41% to Apollo Micro for ₹1,550 cr
Apollo Micro Systems takes control at ₹698/share; mandatory open offer for 26% more. Deal hinges on CCI nod.
— 1 earlier story on Premier Explosives Ltd. →What's new
- Apollo Micro Systems buys 41.33% stake from promoters at ₹698/share.
- Mandatory open offer for up to 26% at same price triggered.
- Deal subject to CCI approval, expected closure in 4-5 months.
Why this matters
A full change of control in a defence small-cap with a ₹1,569 cr order book (4x revenue). Apollo's deep pockets and listed defence parent could accelerate growth, but integration execution is the open question.
What we're watching
- CCI approval timeline and any conditions.
- Open offer response and eventual public shareholding.
- Apollo's integration plans and potential cost or revenue overlaps.
The full read
Apollo Micro Systems is buying 41.33% of Premier Explosives from its promoters at ₹698 per share, a deal worth ₹1,550 crore. This triggers a mandatory open offer for another 26% at the same price, giving public shareholders a chance to exit at a small premium. The price values the company at roughly ₹3,690 crore in market cap. For a company that already holds a record order book worth ₹1,569 crore (four times its latest annual revenue), the arrival of a listed defence parent with deeper pockets could be the push needed to finally execute on its backlog. The deal is subject to CCI approval, expected in 4-5 months. A rare catalyst.
Questions answered
- Who is acquiring Premier Explosives?
- Apollo Micro Systems, a listed defence company, is buying a 41.33% controlling stake from Premier Explosives' promoters for ₹1,550 crore.
- What is the acquisition price per share?
- The price is ₹698 per share, which is slightly above the prevailing market price and values the controlling stake at roughly the company's ₹3,690 crore market cap.
- Will public shareholders get an exit?
- Yes, the deal triggers a mandatory open offer for up to 26% of voting share capital at ₹698 per share, giving public an exit at a premium.
- What regulatory approvals are needed?
- The transaction requires clearance from the Competition Commission of India (CCI) and other standard approvals. Closure is expected in 4-5 months.
- How does this affect Premier Explosives' order book?
- Premier had a ₹1,569 crore order book as of May 2026 (4x FY26 revenue). New ownership could boost capacity execution or cause disruption.
Premier Explosives Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on PREMEXPLN →- 9 Jul 2026 · 7:49 PM IST Premier Explosives sells 41% to Apollo Micro for ₹1,550 cr
- 41d ago Premier Explosives guides for 50% revenue growth, but a key plant slips again