Apollo Micro Systems has acquired a 34% stake in Shauryastra Defence Systems Private Limited, a newly incorporated defence technology and development company.
According to the exchange filing, Shauryastra Defence Systems was incorporated on 21 August 2026, as a dedicated technology and development entity focused on addressing complex and futuristic operational requirements of the Indian Armed Forces.
The venture will be led by Dr V. K. Saraswat, former Secretary of the Department of Defence R&D and former Director General of DRDO. It will leverage Apollo Micro Systems' established capabilities in the design, development, manufacturing and integration of defence technologies.
Apollo Micro Systems said the investment marks a natural extension of its four-decade journey in defence electronics towards developing complete weapon system solutions. The move is also aligned with the government's Atmanirbhar Bharat initiative and is expected to strengthen the company's long-term position as an end-to-end solutions provider in the defence sector.
The transaction was completed through a cash subscription to the Memorandum of Association at face value, and no additional governmental or regulatory approvals were required.
Apollo Micro Systems, on Friday, 21 August, said its manager to the open offer had received a communication from the Securities and Exchange Board of India (SEBI) regarding the company's proposed open offer to acquire up to 1.40 crore fully paid-up equity shares of Premier Explosives.
According to SEBI's letter dated 21 August 2026, the tendering period for the open offer must commence within 12 working days of receiving approval from the Competition Commission of India (CCI).
Apollo Micro Systems added that payments to successful public shareholders who tender their shares in the open offer will be completed within 10 working days from the closure of the tendering period. In the event of a delay, the acquirer will be required to pay interest at 10% per annum, subject to the applicable regulations.
Earlier in July, Apollo Micro Systems had entered into a Share Purchase Agreement (SPA) with the promoter shareholders of Premier Explosives to acquire a 41.33% stake in the company for ₹1,550 crore.
The transaction involves the acquisition of 2.22 crore equity shares of Premier Explosives, each with a face value of ₹2. Upon completion of the acquisition, Apollo Micro Systems will gain control of Premier Explosives.
Apollo Micro Systems share price today opened at ₹386.55 apiece on the BSE; the stock touched an intraday high of ₹397.65 apiece and an intraday low of ₹383.85 apiece.
According to Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, Apollo Micro Systems has been consolidating within the ₹374– ₹467 range since late May. The 20-day and 50-day moving averages have flattened, signalling a sideways trend, while the ADX also remains flat, indicating subdued volatility and a lack of clear directional momentum. Meanwhile, the MACD line has flattened below the zero line, further reinforcing the prevailing sideways bias. A decisive breakout on either side of this range could provide directional cues for the stock’s next move, Shah said.
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Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players.
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