Multibagger defence stock: Apollo Microsystems share price rose nearly 2 per cent to ₹198.39 apiece on Tuesday after hitting an intraday low from ₹194.63.
The multibagger defence stock witnessed surge on June 3 after the company announced that the board has approved the allotment of 2.70 crore equity shares on a preferential basis.
Apollo Microsystems preferential issue details
According to the exchange filing, the issue price has been set at ₹114 each, including a Premium of ₹113 per share.
“Considered and approved the allotment of 2,70,42,894 (Two Crores Seventy Lakhs Forty Two Thousand Eight Hundred and Ninety Four) Equity shares of face value of Re. 1/- each of the Company on preferential basis at an issue price of Rs. 114/- each (Rupees One Hundred and Fourteen only) including a Premium of Rs. 113 per share aggregating to Rs. 308,28,89,916 (Rupees Three Hundred and Eight Crores Twenty Eight Lakhs Eighty Nine Thousand Nine Hundred and Sixteen only), to the identified Non-Promoter persons/ entities (‘Equity Allottees’),” the company said in the filing on June 2.
LIC Mutual Fund, Minerva Ventures Fund, MGO High Conviction Fund incorporated VCC Sub Fund were among the list of 53 allottees.
The company further informed that the board has also approved the allotment of 3,80,67,058 convertible equity warrants on preferential basis at an issue price of ₹114, aggregating to ₹108,49,11,153.
“Approved the allotment of 3,80,67,058 Convertible Equity Warrants on preferential basis at an issue price [including the warrant subscription price (Rs. 28.50 per warrant) and the warrant exercise price (Rs. 85.50 per warrant)] of Rs. 114/- each (Rupees One Hundred and Fourteen Only) aggregating to Rs. 108,49,11,153 (Rupees One Hundred Eight Crores Forty Nine Lakhs Eleven Thousand One Hundred and Fifty Three only) to Promoter Group and to certain identified non-promoter persons/ entities,” it added.
The company further said, “Each of the Warrant, so allotted, is convertible into or exchangeable for one fully paidup equity share of face value of Re. 1/- (Rupee One only) of the Company in accordance with the provisions of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, on payment of the balance consideration of Rs. 85.50/- per warrant (being 75% of the issue price per warrant) from the Allottees at the time of allotment of equity shares pursuant to exercise of conversion option against each such warrant.”
Apollo Microsystems share price has gained over 24.45 per cent in past five trading sessions and over 57.29 per cent in over a month despite volatile market.
The defence stock has given multibagger returns to its long-term investors by soaring over 2,066.37 per cent in five years.
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