- By Aditya Pratap Singh
- Tue, 20 May 2025 01:20 PM (IST)
- Source:JND
Apollo Micro Systems Ltd. (AMSL), a defence company based in Hyderabad, announced that the National Stock Exchange of India Limited and the BSE Limited have given their approval in principle for the preferential issuance of equity shares and convertible equity warrants. According to the company, the approval is for the preferential issuance of 3,11,05,210 equity shares of Re 1 each to non-promoters at a price of at least Rs 114, as well as 3,80,67,059 warrants that are convertible into 3,80,67,059 equity shares of Re 1.
In order to prevent any non-compliances, the NSE has also instructed the company to improve internal controls (to keep an eye on trades being executed by the proposed allottees) prior to securities allocation.
"With respect to the proposed issue of Equity shares and Convertible Equity Warrants on a preferential basis, we wish to inform you that the Company has received In Principle approval from National Stock Exchange of India Limited and BSE Limited," the company said in an exchange filing.
AMS Share Price
In the meantime, after opening on Tuesday in the green, the company's shares saw some profit booking. On the BSE, the stock opened the day at Rs 140.95 after closing at Rs 140.25. However, it fell to a low of Rs 134.65. It was trading at Rs 135.45, the last time we saw it.
The stock has produced a multibagger return of 1,019 per cent in three years and 309 per cent in two years. This year, the counter has increased by 12% so far. The stock's 52-week high is Rs 157, and its 52-week low is Rs 88.10. The company's market value is Rs 4,140 crore.
Sign a Contract with Munitions
The business and state-owned Munitions India had previously inked a deal to work together on developing defence systems for both domestic and foreign markets.
According to a regulatory filing by Hyderabad-based AMSL, both parties will seek and identify opportunities for the design, development, and implementation of cutting-edge defence technologies as part of the Memorandum of Understanding (MoU).
Disclaimer: This is just a piece of news about recent development. Jagran does not advise investing. Please take an expert's opinion before investing.