Multibagger Defence Stock Approves Conversion of Warrants After 1:10 Stock Split

Apollo Micro Systems is one of the multibagger stocks that Dalal Street has witnessed in recent times with a YTD gain of 300%. The Securities Allotment Committee of the Board of Directors of the company, has on 08th December 2023, considered and approved the allotment of 29,54,360 equity shares upon conversion of warrants.

"This is in furtherance to the intimation given by the Company on 5th December 2022 w.r.t. allotment of 98,85,070 (Ninety Eight Lakhs Eighty Five Thousand and Seventy) warrants, each convertible into, or exchangeable for, one equity share of face value of Re. 10/- each [now convertible into 10 equity shares of face value of Re. 1/- each pursuant to the shareholders approval for Sub - division of every 1 (One) equity share of face value of Rs 10/- (Rupees Ten only) each into 10 (Ten) equity shares of the face value of Re 1/- (Rupee One only) each, with effect from the record date Thursday, 4th May 2023] ("Warrants") at an issue price ("Warrant Issue Price") [including the warrant subscription price (Rs. 46.50 per warrant) and the warrant exercise price (Rs. 139.50 per warrant)] of Rs. 186.00 each (Rupees One Hundred and Eighty-Six only) on preferential basis to 24 allottees ("warrant holders")," said Apollo Micro Systems in a stock exchange filing.

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), this to inform you that upon receipt of an amount aggregating to Rs. 4,12,13,322 (Rupees Four Crores Twelve Lakhs Thirteen Thousand Three Hundred and Twenty-Two only) as "Warrant Exercise Price" and duly signed application forms from the below listed warrant holder, as per the terms of issue of Warrants, the Securities Allotment Committee of the Board of Directors of the Company, has on 08th December, 2023, considered and approved the allotment of 29,54,360 (Twenty Nine Lakhs Fifty Four Thousand Three Hundred and Sixty Only) Equity Shares of Re. 1/- each, upon conversion/ exchange of/for such number of Warrants," the company informed stock exchanges.

Nexpact Limited is the non-promoter group of the company that has been allotted 29,54,360 equity shares of face value of Re. 1/- each upon conversion/ exchange of/for 2,95,436 number of Warrants at an issue price of Rs. 186.00 each upon receipt of balance amount "Warrant Exercise Price" aggregating to Rs. 4,12,13,322.

"Warrants had been allotted on 5th December, 2022 carrying a right to subscribe to 1 Equity Share per warrant [now convertible into 10 equity shares of face value of Re. 1/- each pursuant to the shareholders approval for Sub - division of every 1 (One) equity share of face value of Rs 10/- (Rupees Ten only) each into 10 (Ten) equity shares of the face value of Re 1/- (Rupee One only) each, with effect from the record date Thursday, 4th May 2023] on receipt of amount at the rate of Rs. 46.50 per warrant (being 25% of the issue price per warrant as "warrant subscription price"). Now, 29,54,360 Equity Shares have been allotted on receipt of balance amount at the rate of Rs. 139.50 per warrant (being 75% of the issue price per warrant as "Warrant Exercise Price")," said Apollo Micro Systems (AMS) in a regulatory filing.

On Friday, the shares of Apollo Micro Systems closed on the NSE at Rs 122.05 apiece. The stock has generated a multibagger return of 357.46% in 1 year and 300% on a YTD basis.