Stock Market Today: Apollo Micro Systems declared raising of funds through the issuance of preferential issue at ₹114 per share. The company board, in its board meeting held on Thursday, considered and approved raising of the paid-up capital of the company from existing ₹36 crores to ₹45 crores. Out of these additional ₹9 crore additional paid-up capital, rupee three crores thirty-four lakhs eighteen thousand eight hundred and six paid-up capital is aimed through the issuance of preferential shares.
In its release on the exchanges, Apollo Micro Systems said that the Board of Directors of the company, at its meeting held on Thursday, 09th January 2025 at the Company’s registered office, have considered and approved the increase of Authorized capital and preferential share issue.
Preferential shares-
Apollo Micro Systems will issue up to 3,34,18,806 (Three Crores Thirty Four Lakhs Eighteen Thousand Eight Hundred and Six only) Equity shares of Face Value R 1/- (Rupee One only) each at a price of ₹114/- each including premium of ₹113/- per share aggregating to around ₹381 Crore ( ₹ 3,80,97,43,884 or Three Hundred Eighty Crores Ninety Seven Lakhs Forty Three Thousand Eight Hundred and Eighty Four only) on a preferential basis.
The preferential Allotment for cash consideration will be to the select group of persons or Investors who do not belong to Promoter & Promoter Group of the Company.
“The Authorized capital of Apollo Micro Systems thereby has been increased from the existing ₹36,00,00,000/- (Rupees Thirty Six Crores Only) divided into 36,00,00,000 (Thirty Six Crores Only) Equity Shares of ₹1 /- (Rupees One Only) each to ₹45,00,00,000/- (Rupees Forty Five Crores Only) divided into 45,00,00,000 (Forty Five Crores Only) Equity Shares of ₹1/- (Rupee One Only) each by the addition there to a sum of ₹9,00,00,000/- (Rupees Nine Crores Only) divided into 9,00,00,000 (Nine Crores) Equity Shares of ₹1/- (Rupee One Only),” the defence and aerospace company said in an exchange filing.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
