Multibagger defense stock Apollo Micro Systems will be in focus during Monday’s trading session after the company, through its wholly owned subsidiary Apollo Defence Industries Private Limited, has entered into a Share Purchase Agreement to fully acquire IDL Explosives Limited for ₹107 crore in an all-cash transaction.

This announcement was made on May 2, 2025. The completion of the deal is anticipated within two to three months, subject to regulatory and corporate authorization.

In an exchange filing, the company indicated that this acquisition is intended to enhance its manufacturing capabilities in the field of Defense Explosives, catering to the increasing domestic demand in areas such as artillery, missiles, and other high-impact defense sectors.

With this transaction, the Apollo Group significantly advances its long-term goal of becoming a Tier-I OEM Weapon Systems Supplier, providing integrated solutions that range from the design of Weapon Systems electronics to comprehensive Weapon Systems solutions, which include platforms and explosives.

The acquisition consists of 78.65 lakh equity shares priced at ₹136.04 each. Upon completion, Apollo Defence will hold 100% ownership of IDL Explosives. Both companies affirmed that there are no related parties involved in this deal.

Involvement in the production of explosives

IDL Explosives Limited operates as a fully owned subsidiary of GOCL Corporation Limited, which belongs to the Hinduja Group, focusing on the production and provision of bulk explosives utilized in mining and infrastructure initiatives. According to its most recent audited financial statements for FY 2023–24, the company recorded a revenue of ₹623 crores and a net worth of ₹10 crores.

Apollo Micro Systems share price

Apollo Micro Systems share price closed 0.64% lower on Friday at ₹116.40 apiece on the BSE. Apollo Micro Systems’ stock price has surged by 1500% over the last five years, providing multibagger returns to its investors. Nevertheless, the stock price of Apollo Micro Systems has decreased by 25.87%.

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