Multibagger Defence Electronics Company Raises Rs 28,94,48,451 Through Warrant Conversion; Check Key Details

On Tuesday, Indian equity benchmarks traded higher, with the benchmark Nifty 50 index rising 0.26 per cent to 23,182.00. The Nifty India Defence Index also gained 1.56 per cent to 9,117.20, resulting strength across defence-related stocks. Amid the positive sectoral sentiment, Apollo Micro Systems share price traded at Rs 417.85, up 2.67 per cent from the previous close after the company announced the allotment of equity shares pursuant to warrant conversion.

Allots Shares Upon Warrant Conversion

Apollo Micro Systems informed the stock exchanges that its Securities Allotment Committee approved the allotment of 33,85,362 equity shares of face value Re 1 each upon conversion of an equivalent number of warrants issued on a preferential basis. The allotment was approved on June 8, 2026.

The company received an aggregate amount of Rs 28.94 crore towards the warrant exercise price from six warrant holders before approving the allotment.

Apollo Micro Systems Details Of Allottees

The shares were allotted to six investors, including Rajesh Vanigota, Rajshri Karwa, Ashish Jain, Lata Dhiraj Shah, Piyush Bhupendra Gala and Ebisu Global Opportunities Fund Limited. Out of the total allotment, Ebisu Global Opportunities Fund Limited accounted for 17,54,385 shares, while Rajshri Karwa converted warrants into 10,00,000 equity shares.

The warrant exercise price paid upon conversion stood at Rs 85.50 per warrant, representing the balance 75 per cent payable on conversion of warrants originally issued at Rs 114 per warrant.

Apollo Micro Systems Paid-Up Capital Increases

Following the allotment, the company's issued and paid-up share capital increased from Rs 35.73 crore to Rs 36.07 crore. The newly allotted equity shares will rank pari passu with the existing equity shares of the company in all respects.

Conversion Status Of Preferential Warrants

Apollo Micro Systems had originally allotted 3,80,67,058 warrants on a preferential basis in June 2025. Following the latest conversion, a total of 2,71,58,348 warrants have been converted into equity shares.

The company stated that warrant holders are required to exercise their warrants within 13 months from the date of allotment. Any unexercised warrants after the stipulated period will lapse and the amount already paid towards such warrants will be forfeited.

About Apollo Micro Systems

Apollo Micro Systems Ltd is engaged in the design, development and manufacturing of electronic, electromechanical and engineering solutions for defence, Aerospace, homeland security and space applications. The company supplies mission-critical systems and components to various government and private sector organisations.

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Disclaimer: The article is for informational purposes only and not investment advice.