Multibagger Defense Stock Edges Higher after Allotment of Preference to LIC Mutual Fund, Minerva Ventures Fund

Multibagger Defense Stock: Apollo Microsystems Share Price Rose Nearly 2 per cent to 198.39 Apiece on Tuesday after Hitting an INTRADAY LOW from 194.63.

The multibagger defense stock witnessed surge on June 3 after the company announced that the board has approved the allotment of 2.70 Crore Equity Shares on a a aus

Apollo microsystems preferentiial issue details

According to the exchange filing, the issue price has been set at 114 Each, Including a Premium of 113 per share.

“Considered and approved the allotment of 2,70,42,894 (two crus seventy lakhs forty two thosand eighted and ninety four) right shares of face value of re. Preference at an issue price of Rs. Hundred and eight croes twenty eight lakhs eighty nine thosand nine Hindred and Sixteen only), to the identified non-promoter persons/ entities (‘Equity allottees’) on June 2.

LIC Mutual Fund, Minerva Ventures Fund, MGGO High Conviction Fund Incorporated VCC Sub Fund was among the list of 53 allottes.

The company further informed that the board has also approved the allotment of 3,80,67,058 convertible equity works on preferentitious basis at an issue price of 114, Aggregating to 108,49,11,153.

“Approved the allotment of 3,80,67,058 convertible equity warrants on preference at an issue price [including the warrant subscription price (Rs. 28.50 per warrant) and the warrant exercise price (Rs. 85.50 per warrant)] of Rs. 114/- Each (Rupees One Hundred and Fourten only) Aggregating to Rs. 108,49,11,153 (Rupees One Hundred Eight Crores Forty Nine Lakhs Eleven Thouss One Hundred and Fifty Three Onaly) To Promoter Group and To Certain Identtified Non-Promoter Persons Entities, ”it added.

The company further said, “Each of the warrant, so allotted, is convertible into or exchangeable for one full Paidup equity share of face value of re. 1/- (Rupee one only) of the company in Accordance with the provisions of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulation, 2018, on Payment of the Balance Consideration of RSS of the issue price per warrant) from the allottees at the time of allotment of allotment of equity shares pursuant to exercise of conversion option against each successful warrant. “

Apollo Microsystems Share Price Has Gained Over 24.45 per cent in past in past five trading sessions and over 57.29 per cent in over a month despite Volatile Market.

The defense stock has given multibagger returns to its long-term investors by Soaring over 2,066.37 per cent in five years.

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