Author: Nishtha Mehrotra | EQMint
Apollo Micro Systems Limited has issued a clarification regarding its proposed ₹3,322.23 crore preferential issue, incorporating observations raised by the National Stock Exchange (NSE) regarding its EGM notice and explanatory statement.
The company has disclosed a detailed pre- and post-issue shareholding pattern covering 113 proposed allottees. The issue comprises up to 2,28,30,902 equity shares and 5,69,15,380 convertible warrants, with each security priced at ₹416.60.
The equity share component is expected to raise around ₹951 crore, while the warrants account for approximately ₹2,371 crore. Proposed allottees include promoter group members, institutional investors, funds and individual investors.
Promoters Chanakya Reddy Baddam and Kanishka Reddy Baddam are each proposed to receive 1.305 crore warrants. Other participating investors include Opal Global Diversified Fund, Cullinan Opportunities and Tata Business Cycle Fund.
The clarification follows NSE’s observations and provides the revised disclosure required for the proposed corporate action.
Disclaimer: This article is for information purposes only and is not investment advice.
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