Apollo Micro Systems and its step-down subsidiary IDL Explosides have secured new contracts worth a combined ₹189.57 crore from defence and government clients. The orders, valued at ₹134.35 crore for the parent company and ₹55.22 crore for the subsidiary, strengthen the company's presence in the defence electronics and systems sector.

Order Details

The following table summarises the key details of the orders as disclosed:

Significance of the Contracts

The order from DRDO, the Indian Navy, and Defence PSUs represents a notable addition to Apollo Micro Systems' order book. Securing contracts from multiple high-profile defence organisations simultaneously reflects the company's established credibility and technical capabilities within India's defence procurement ecosystem. The additional work awarded to IDL Explosides, executables over two years, further diversifies the company's revenue streams.

Apollo Micro Systems Limited has scheduled an Extraordinary General Meeting (EGM) on August 4, 2026, to seek shareholder approval for raising ₹3,322.23 crore through a preferential issue of equity shares and convertible equity warrants. The company proposes to issue up to 22,830,902 equity shares and 56,915,380 warrants at a price of ₹416.60 per unit. The proceeds are intended for strategic acquisitions, debt repayment, and working capital requirements.

Capital Increase and Allotment Details

The board has approved increasing the authorized share capital from ₹45 crore to ₹63 crore by creating 18 million additional equity shares. The preferential allotment price of ₹416.60 includes a premium of ₹415.60 per share. The equity shares are proposed to be allotted to 55 non-promoter investors, while the warrants will be issued to 93 investors, including the promoter group and non-promoters. Each warrant is convertible into one fully paid-up equity share of ₹1 face value within 12 months of allotment.

Utilization of Proceeds

The company plans to utilize the net proceeds towards exploring potential acquisition opportunities, repaying existing debts of the company and its subsidiaries, and meeting working capital requirements for Fiscal 2027 and Fiscal 2028. Additionally, up to 25% of the gross proceeds may be utilized for general corporate purposes. Acuité Ratings and Research Limited has been appointed as the monitoring agency for the utilization of proceeds.

Meeting and Voting Details

The EGM will be held via video conferencing on August 4, 2026, at 11:30 A.M. IST. Remote e-voting commences on July 31, 2026, and concludes on August 3, 2026. July 28, 2026, is the cut-off date to determine member eligibility for voting. Ms. Sridevi Madati of M/s. MNM & Associates has been appointed as the scrutinizer for the e-voting process.

Breakdown of Proposed Allotments