By Khabar Rojana 
Earlier, the company announced the completion of its preferential allotment of equity shares and convertible warrants, raising a total of over Rs 416 crore.
Mumbai:
Shares of Apollo Micro Systems, a technology-driven firm in the aerospace, defence, and homeland security sectors, hit a fresh 52-week high of Rs 240.60 after the company informed exchanges about an order win from DRDO and a defence PSUs. The counter started the trading session in the green at Rs 206.25, up from the previous close of Rs 204.95 on the BSE. Amid a spurt in trading volume, the scrip gained further to touch the fresh 52-week high of Rs 240.60, representing a gain of 17.39 per cent from the closing price of the last trading session. On the NSE, the stock began the trading session at Rs 206, up from its previous close of Rs 205.23, and reached a high of Rs 240.40. The 52-week low of the counter is Rs 2024.70.
The stock has been gaining for the last six days and has risen 24.46 per cent in the period. Moreover, it has outperformed the sector by 11.18 per cent. Technically, the scrip trades higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages
Apollo Micro Systems Order Details
“We are pleased to inform you that the company has been declared the lowest bidder for orders worth ₹25.12 crore from DRDO and defence PSUs,” said the company.
Raises Rs 416 Crore Via Equity Shares
Earlier, the company announced the completion of its preferential allotment of equity shares and convertible warrants, raising a total of over Rs 416 crore.
The allotments were made to the promoter group, Non-Executive Director Aditya Kumar Halwasiya and LIC Mutual Fund.
In a statement, the company said the preferential issue involved 2.70 crore equity shares allotted at Rs 114 each, aggregating to Rs 308 crore along with 3.80 crore convertible equity warrants issued at the same price, with 25 per cent upfront subscription, aggregating to Rs 108.5 crore in initial proceeds.
An additional Rs 325.50 crore is anticipated within six months as the rest 75 per cent of the convertible warrants’ proceeds.
With PTI inputs
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)