Share Under Rs 250: This defence stock gains as company raises Rs 416 crore via equity shares, warrants

Share Under Rs 250: This defence stock gains as company raises Rs 416 crore via equity shares, warrants

Mumbai:

Shares of aerospace and defence Apollo Micro Systems Ltd (AMSL) gained on Thursday, i.e.on June 5, 2025, as the company has raised a total of over Rs 416 crore via equity shares and warrants. The stock opened in the green at Rs 208 against the previous close of Rs 204.05. This is a gain of 2.36 per cent from the previous close and also the new 52-week high of the counter. However, the stock dipped amid profit booking and touched the intraday low of Rs 196.20 but regained to trade in the green. Last seen, it was trading at Rs 204.90 with a gain of 0.84 per cent.

The counter has been gaining for the last four days and has risen 8.79 per cent in the period.

Company Raises Rs 416 Crore

The technology-driven home-grown firm has announced the completion of its preferential allotment of equity shares and convertible warrants, raising a total of over Rs 416 crore.

The allotments were made to the promoter group, Non-Executive Director Aditya Kumar Halwasiya and LIC Mutual Fund.

In a statement, the company said the preferential issue involved 2.70 crore equity shares allotted at Rs 114 each, aggregating to Rs 308 crore, along with 3.80 crore convertible equity warrants issued at the same price, with 25 per cent upfront subscription, aggregating to Rs 108.5 crore in initial proceeds.

An additional Rs 325.50 crore is anticipated within six months as the rest 75 per cent of the convertible warrants' proceeds.

As part of the preferential issue, the promoter group has subscribed to 1.68 crore convertible equity warrants. Halwasiya was allotted 15 lakh shares and an additional 15 lakh convertible equity warrants and LIC Mutual Fund participated with an allotment of 26.31 lakh shares.

The capital raised will be deployed towards growth initiatives, working capital requirements, and strengthening the company’s innovation capabilities in high-tech and mission-critical solutions.

With PTI inputs

Tags:

About The Author

Aryan Age Picture

Welcome to Aryan Age, an English newspaper that has been serving readers since 2011 from Delhi. With a loyal circulation of over 19,000, we are dedicated to providing our readers with the latest news and information, as well as insightful analysis and commentary that help them navigate the complex and rapidly changing world.

Post Comment

Comment List

Latest News

Live Cricket Score

Advertisement

Science & Tech

Google Gemini gets smarter: Now automate daily tasks with scheduled actions Google Gemini gets smarter: Now automate daily tasks with scheduled actions
New Delhi: Google is rolling out a new update to Gemini, its AI assistant, introducing Scheduled Actions for Pro, Ultra,...
Huawei Band 10 launched in India with Pro Swim Tracking and special Amazon offers

Health

Is it just burnout or something serious? When should you take brain fog seriously, doctor answers Is it just burnout or something serious? When should you take brain fog seriously, doctor answers
New Delhi: In today’s world, feeling mentally exhausted is very common. This can have a significant impact on our mental...
World Multiple Sclerosis Day 2025: 5 tips to manage the condition better, according to experts

Lifestyle

Memory games to mental math: Try these brain exercises to improve your memory Memory games to mental math: Try these brain exercises to improve your memory
New Delhi: Your brain is one of the most important organs in the body. It controls different functions of the...
Consume these healthy, low-sodium snacks to satisfy your tea-time cravings, know recipe