Defence technology company Apollo Micro Systems has signed a definitive share purchase agreement to acquire 41.33% stake for around ₹1,550 in another Hyderabad-based Premier Explosives that manufacturers high energy materials for defence, aerospace and mining sectors.Apollo Micro Systems is also making a mandatory open offer to the eligible public shareholders of Premier Explosives for the acquisition of up to 26% fully diluted voting equity share capital. This acquisition will be at ₹698 per share aggregating to a little over ₹975.65 crore.On Friday Apollo Micro Systems shares closed 2.57% higher at ₹408.85 each on the BSE, while Premier Explosives shares ended the day 3.86% lower at ₹687.15 apiece.Announcing plans for acquisition of the stake from the promoters of Premier Explosives, Apollo on Thursday (July 9, 2026) said the transaction is expected to close by December subject to customary closing conditions, regulatory approvals and shareholder approval. On completion, Premier Explosives will come under umbrella of Apollo Micro Systems and continue to operate under its existing brand, with scaled performance. Premier Explosives is engaged in the business of manufacturing solid propellants for missile programmes and supplying countermeasure systems to the Indian defence, aerospace, and mining sectors.The transaction combines complementary capabilities in defence systems and energetic materials, enabling operational efficiencies, enhanced R&D, and broader participation in defence and space-related programmes. “Together, we are better positioned to safeguard national security interests and support our armed forces with greater scale, resilience, and technological self-reliance,” Apollo Micro Systems MD Baddam Karunakar Reddy said. Published - July 10, 2026 09:21 pm IST