Apollo Micro acquires Premier Explosives stake

Apollo Micro Systems Ltd has signed a definitive share purchase agreement to acquire a 41.33% controlling stake in Premier Explosives Ltd from the AKS Family Trust for approximately ₹1,550 crore in an all-cash transaction. The deal values Premier Explosives shares at about ₹697.5 per unit. Apollo Micro Systems will also launch a mandatory open offer to acquire up to an additional 26% stake from public shareholders at ₹698 per share, potentially raising its holding to 67.33%. The transaction is subject to regulatory approvals including from the India — Election Commission of India and is expected to close by December 2026. Premier Explosives will continue to operate under its existing brand as a subsidiary of Apollo Micro Systems. The acquisition combines complementary capabilities in defence systems and energetic materials, aiming to enhance operational efficiencies, R&D, and participation in defence and space programmes. Premier Explosives manufactures high-energy materials, rocket motors, and countermeasure systems, and provides O&M services for ISRO's solid propellant plants. Apollo Micro Systems designs advanced electronic, electro-mechanical, and engineering systems for defence and aerospace. The deal is part of India's defence consolidation trend under the Aatmanirbhar Bharat initiative.