Multibagger Defence Stock In Focus After Stock Exchanges Okays Listing of Shares On Preferential Basis

Following trading approval for 1,67,45,640 equity shares of Re. 1/-each, issued and allotted on a preferential issue basis to the non-promoters, by the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on January 4, 2024, Apollo Micro Systems Ltd, a small-cap company in the defence sector, is in the spotlight.

"We would like to inform that trading approval for 1,67,45,640 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 04th January, 2024. We are pleased to inform you that the above equity shares of the Company are listed and admitted to dealings on the Exchange from 05th January, 2024," said Apollo Micro Systems in a stock exchange filing.

"Trading members of the Exchange are hereby informed that the under mentioned new securities of Apollo Micro Systems Limited (Scrip Code - 540879) are listed and permitted to trade on the Exchange with effect from Friday, January 5, 2024," said the company in a regulatory filing.

According to Apollo Micro Systems, 16745640 equity shares of Rs. 1/- each issued at a premium of Rs.17.60/- to non promoters on a preferential basis pursuant to conversion of warrants. These shares are ranking pari-passu with the old equity shares of the company. The distinctive number of the issue is 262658861 to 279404500 and Rs.18.60/ is the issue price. The date up to which the securities will be locked in is 20-Jul-2024.

"Please note that all critical/price sensitive information and other submissions under Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 shall be provided by the company through 'NEAPS' - NSE Electronic Application Processing System (https://neaps.nseindia.com/NEWLISTINGCORP/), an online filing facility provided by the Exchange, for quicker and efficient processing of your submissions," said the company in a regulatory filing.

The stock has produced a multibagger return of 281.48% over the last year, while the scrip has gained 169.30% during the last six months. The stock is up 6.17% year to date (YTD) in 2024.