Apollo Micro Systems Ltd. witnessed a 5% surge in its stock price after announcing that its wholly owned subsidiary, Apollo Defence Industries Pvt. Ltd. (ADIPL), has signed a Share Purchase Agreement to acquire 100% equity of IDL Explosives Ltd. for ₹107 crore. The deal, announced on May 2, 2025, is expected to close within 2-3 months, subject to regulatory approvals.
IDL Explosives, currently a subsidiary of GOCL Corporation (part of the Hinduja Group), is a significant player in the industrial explosives sector, primarily serving the mining and infrastructure industries. In FY24, IDL Explosives recorded a turnover of ₹623 crore and a net worth of ₹10 crore.
The acquisition strengthens Apollo’s long-term vision to become a leading Tier-I Original Equipment Manufacturer (OEM) for weapon systems. By integrating defence explosives manufacturing, Apollo will diversify its portfolio, expanding its capabilities in artillery, missile, and weapon platforms.
The deal involves the purchase of 78.65 lakh equity shares, valued at ₹136.04 per share. Post completion, Apollo Defence will hold full ownership of IDL Explosives.
Apollo Micro Systems shares opened at ₹120.00, reaching a high of ₹124.99 and a low of ₹119.11 today. The stock has seen a 52-week high of ₹157.00 and a low of ₹87.99.
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