Apollo Micro Systems Ltd allots 98,85,070 warrants

Pursuant to the approval of the Board of Directors of Apollo Micro Systems Limited at its meeting held on 13th October 2022 and approval of the members of the Company at their Extra-Ordinary General Meeting held on 12th November 2022 and pursuant to In-principle approvals granted by BSE Limited and National Stock Exchange of India Limited vide their respective letters dated 22nd November 2022 and upon receipt of an amount aggregating to Rs. 45,96,55,755 (Rupees Forty Five Crores Ninety Six Lakhs Fifty Five Thousand Seven Hundred and Fifty Five only) at the rate of Rs. 46.5/- per warrant (being 25% of the issue price per warrant) as warrant subscription price, the Securities Allotment Committee of the Board of Directors of the Company, has considered and approved the Allotment of 98,85,070 (Ninety Eight Lakhs Eighty Five Thousand and Seventy) warrants on preferential basis at an issue price [including the warrant subscription price (Rs. 46.50 per warrant) and the warrant exercise price (Rs. 139.50 per warrant)] of Rs. 186/- each (Rupees One Hundred and Eighty Six only) aggregating to Rs. 183,86,23,020 (Rupees One Hundred and Eighty Three Crores Eighty Six Lakhs Twenty Three Thousand and Twenty only), to Mr. Karunakar Reddy Baddam, Promoter of the Company and to certain other non-promoter persons/ entities ('Allottees').

Each of the Warrant, so allotted, is convertible into or exchangeable for one fully paid-up equity share of face value of Re. 10/- (Rupee Ten 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. 139.50/- 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.

Shares of Apollo Micro Systems Limited was last trading in BSE at Rs. 270.85 as compared to the previous close of Rs. 266.75. The total number of shares traded during the day was 11525 in over 201 trades.

The stock hit an intraday high of Rs. 276.70 and intraday low of 265.30. The net turnover during the day was Rs. 3125241.00.

Source : Equity Bulls

Keywords

ApolloMicroSystems INE713T01010 FundRaising ConvertibleWarrants PreferentialIssue