Apollo Micro Systems Advances with Warrant Conversions and DRDO Transfers of Technology in December 2025

Apollo Micro Systems Limited reported fresh equity share allotments and key defence technology approvals, while its shares hit the upper circuit on 23rd December 2025. The company informed stock exchanges about warrant conversions, capital changes and new Transfers of Technology from Defence Research & Development Organisation.

On 23rd December 2025, Apollo Micro Systems’ shares were locked at the upper circuit limit of Rs 262.15 each. The price showed a 5% gap up from the previous close. At that level, the company’s market capitalisation stood at Rs 8,798.79 crore on the exchange.

The Securities Allotment Committee of Apollo Micro Systems approved the issue of 11,696 equity shares. Each share carries a face value of Re. 1. The allotment followed the exercise of an equal number of warrants, issued earlier on a preferential basis to specific investors.

One warrant holder, Mr. Piyush Bhupendra Gala, received all 11,696 equity shares after paying the remaining exercise amount. The outstanding warrant exercise fee totalled Rs 10,00,008. Apollo Micro Systems confirmed receipt of this money in a regulatory filing dated 22nd December 2025.

The warrants linked to these new shares formed part of a larger preferential issue announced earlier in 2025. On 2nd June 2025, Apollo Micro Systems allotted 3,80,67,058 warrants to 30 allottees. Each warrant carries the right to convert into one equity share of Re. 1.

Under the issue terms, every warrant had a price of Rs 114. Of this, 75% or Rs 85.50 became payable at conversion. Mr. Gala held 23,977 warrants in total. Out of these, 11,696 warrants were exercised, resulting in the same number of new equity shares.

The fresh allotment changed the paid-up capital structure of Apollo Micro Systems. Issued, subscribed and paid-up share capital rose from Rs 35,72,80,744 to Rs 35,72,92,440. The company now has 35,72,92,440 equity shares outstanding, each carrying a face value of Re. 1.

Management clarified that the newly issued equity shares will rank equally with existing equity shares. This means voting rights, dividend entitlement and other rights stay identical. There will be no distinction between these shares and earlier issued shares within the capital structure.

Apollo Micro Systems also updated investors on the broader warrant conversion progress from the June 2025 allotment. Out of 3,80,67,058 warrants issued on a preferential basis, 2,37,59,986 warrants have already turned into equity shares. The remaining warrants stay eligible for conversion within a defined period.

Any warrants left unexercised within 13 months from the 2nd June 2025 allotment date will lapse. The company stated that the amounts already paid against such warrants will be forfeited. This condition applies to all remaining warrant holders under the preferential issue.

Parameter	Before allotment	After allotment
Paid-up share capital (Rs)	35,72,80,744	35,72,92,440
Number of equity shares	35,72,80,744	35,72,92,440

Warrants data	Quantity
Total warrants issued (2nd June 2025)	3,80,67,058
Warrants converted into equity shares	2,37,59,986
Warrants held by Mr. Piyush Bhupendra Gala	23,977
Warrants exercised by Mr. Gala in this tranche	11,696

Apollo Micro Systems equity shares, DRDO ToT and defence manufacturing

Alongside capital changes, Apollo Micro Systems reported new approvals in the defence technology area. The company received two Transfers of Technology from DRDO linked to Directed Energy Weapon systems. These approvals form part of India’s focus on advanced domestic defence manufacturing.

The firm disclosed on 22nd December 2025 that the ToTs relate to Electro-Optical tracking and laser weapon systems. These technologies will support the development of high-precision targeting and laser engagement platforms within Apollo Micro Systems’ defence electronics portfolio.

One ToT covers Electro-Optical (EO) Tracking System technology with EO sensors for Directed Energy Weapon applications. This technology will come from DRDO’s Instruments Research & Development Establishment, Dehradun. The other ToT covers a Multi-Channel 10 kW Laser Directed Energy Weapon System from DRDO’s Centre for High Energy Systems & Sciences, Hyderabad.

The technology transfer approvals remain subject to signing the relevant licensed agreements. Regulatory and procedural requirements must also be satisfied. Only after these steps will Apollo Micro Systems be able to fully use and manufacture systems based on the transferred DRDO technologies.

These Directed Energy Weapon technologies are expected to strengthen Apollo Micro Systems’ position in defence electronics. They align with defence indigenisation goals and the Atmanirbhar Bharat agenda. The company gains support for laser-based engagement systems and precise electro-optical tracking solutions for armed forces use.

Management stated that the ToTs will help address the fast evolving aerial threat environment. They also link with Apollo Micro Systems’ ongoing work on anti-drone solutions. The company noted that these systems are being developed under the "Make" category for the Indian Armed Forces, covering both soft-kill and hard-kill options.

For investors and defence sector observers, Apollo Micro Systems now presents a mix of capital market activity and technology expansion. Warrant conversions have modestly lifted equity capital, while the DRDO approvals may influence project pipelines. The share price reaction on 23rd December 2025 reflects this combined information flow.