Apollo Micro Systems shares gained after reports said the company is close to acquiring Premier Explosives in a deal valued at Rs 2,300-2,500 crore. The proposed acquisition would strengthen Apollo's presence across the defence manufacturing value chain amid rising government spending and growing investor interest in the sector.
Apollo Micro Systems shares gained after reports said the company is close to acquiring Premier Explosives in a deal valued at Rs 2,300-2,500 crore. The proposed acquisition would strengthen Apollo's presence across the defence manufacturing value chain amid rising government spending and growing investor interest in the sector.
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Apollo Micro Systems shares rose 1% after the defence manufacturer was said to be nearing a deal to acquire Premier Explosives for Rs 2,300-2,500 crore, including the cost of an open offer to minority shareholders, ET reported.A board meeting of Premier Explosives is scheduled for today.Both Apollo Micro Systems and Premier Explosives are headquartered in Hyderabad. The proposed deal, if completed, would bring together two defence-focused companies at a time when India’s defence spending and ex…
