Apollo Micro Systems Finalises Allotment of Equities On Preferential Basis

Apollo Micro Systems shares on Friday ticked higher as the company's board informed about the approval for 29,54,360 equity shares of Re 1 on each preferential issue basis.

The stock made an intraday high and an intraday low of Rs 124.75 and Rs 121.25 during today's trading session, respectively. As many as 0.42 lakh shares traded with a total turnover of Rs 52.02 lakh on BSE around 3 PM when the stock traded flat at Rs 222.

The company through an exchange filing said that shares have been allotted to the non-promoters following the approval granted by NSE and BSE.

"With reference to above captioned subject, we would like to inform that trading approval for 29,54,360 equity shares of Re. 1/- each, issued and allotted on Preferential Issue basis to the Non-Promoters, have been granted by National Stock Exchange of India limited (NSE) and BSE limited (BSE) on 18th January, 2024," the filing said.

A multibagger stock under defense segment has given about three-digit returns in percentage terms in six months. The stock has rallied 111 per cent in the period.

Hyderabad-based AMSL offers technology-based solutions in sectors like infrastructure, transportation, aerospace and defense, among others.

Founded in 1985, Apollo Micro Systems (AMS) is a leader in the design, development, and assembly of electro-mechanical and custom-built electronics systems. In addition to serving the aerospace, defense, and space industries as its primary clients, AMS also provides solutions for the homeland security, automotive, railway, and aerospace sectors using cutting-edge technology.