India's defence electronics maker Apollo Micro to buy 41.3% stake in Premier Explosives

Apollo Micro Systems will buy a 41.33% stake in Premier Explosives for INR 15.5 billion ($162.5 million), signaling a material entry into the defense equipment supply chain. The deal is a meaningful corporate action likely to move Apollo Micro Systems and Premier Explosives shares, given the sizable transaction value.

Analysis

Apollo Micro Systems will buy a 41.33% stake in Premier Explosives for INR 15.5 billion ($162.5 million), signaling a material entry into the defense equipment supply chain. The deal is a meaningful corporate action likely to move Apollo Micro Systems and Premier Explosives shares, given the sizable transaction value.