Apollo Micro Systems Takes 34% Stake In New Defence Venture, SEBI Sets Timeline For Premier Explosives Deal
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Apollo Micro Systems picked up a 34% stake in newly formed Shauryastra Defence Systems The new defence venture will be led by former DRDO chief Dr V K Saraswat and will focus on developing technologies for the Indian Armed Forces.
Apollo Micro Systems has taken a 34% stake in newly incorporated defence technology company Shauryastra Defence Systems, while the Securities and Exchange Board of India (SEBI) has set a timeline for the open offer linked to its proposed acquisition of Premier Explosives.
Shares of Apollo Micro Systems opened at Rs 386.55 on the BSE on Monday. The stock touched an intraday high of Rs 397.65 and a low of Rs 383.85 during the session.
Apollo Micro Systems Invests In Shauryastra Defence Systems
Apollo Micro Systems has acquired a 34% stake in Shauryastra Defence Systems Private Limited through a cash investment of Rs 34,000. It subscribed to 3,400 equity shares of the company at a face value of Rs 10 each.
The transaction was completed through a cash subscription to the Memorandum of Association and did not require any additional government or regulatory approvals.
Shauryastra Defence Systems was incorporated on August 21, 2026, as a technology and development company focused on addressing complex and future requirements of the Indian Armed Forces, according to the exchange filing.
The venture will be led by Dr V K Saraswat, former Secretary of the Department of Defence R&D and former Director General of DRDO. It will use Apollo Micro Systems' capabilities in the design, development, manufacturing and integration of defence technologies.
Apollo Micro Systems said the investment builds on its four-decade presence in defence electronics and will help it move towards developing complete weapon system solutions. The company also said the move supports the government's Atmanirbhar Bharat initiative and could strengthen its position as an end-to-end defence solutions provider.
SEBI Sets Timeline For Premier Explosives Open Offer
Separately, Apollo Micro Systems said its manager to the open offer had received a communication from SEBI on the company's proposed acquisition of up to 1.40 crore fully paid-up equity shares of Premier Explosives.
According to SEBI's letter dated August 21, 2026, the tendering period for the open offer must begin within 12 working days of Apollo Micro Systems receiving approval from the Competition Commission of India (CCI).
The company said payments to public shareholders whose shares are accepted under the open offer will be completed within 10 working days of the close of the tendering period. In case of a delay, the acquirer will have to pay interest at 10% per annum, subject to applicable regulations.
The development follows a Share Purchase Agreement signed by Apollo Micro Systems with the promoter shareholders of Premier Explosives in July to acquire a 41.33% stake for Rs 1,550 crore.
The proposed acquisition involves 2.22 crore equity shares of Premier Explosives, each with a face value of Rs 2. Once completed, the transaction will give Apollo Micro Systems control of Premier Explosives.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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