Fundraising
Apollo Micro Systems Corrects Preferential Issue Details; Revised Fundraising Size Stands at ₹3,322.23 Crore
NSE
apollo
BSE
540879
Apollo Micro Systems Limited has issued a corrigendum to its Board Meeting Outcome dated July 6, 2026, correcting inadvertent errors and releasing revised annexures relating to its proposed preferential issue. The revised proposal comprises equity shares worth ₹951.14 crore and convertible warrants worth ₹2,371.09 crore, aggregating approximately ₹3,322.23 crore.
PRICE-SENSITIVE TRIGGER
Event: Apollo Micro Systems issued a corrigendum to its earlier Board Meeting Outcome relating to its preferential allotment.
Type: Fundraising
Impact: Neutral
Immediate Effect: The company has revised and clarified the details of its proposed preferential allotment without announcing a new fundraising proposal. The corrigendum updates the number of securities, aggregate consideration and annexures submitted to stock exchanges.
Key Metrics:
Key Metrics:
- Equity Shares Proposed: 2,28,30,902 shares
- Equity Issue Size: ₹951.14 crore
- Convertible Warrants Proposed: 5,69,15,380 warrants
- Warrant Issue Size: ₹2,371.09 crore
- Total Proposed Fundraising: ₹3,322.23 crore
- Issue Price (Shares): ₹416.60 per share
- Issue Price (Warrants): ₹416.60 per warrant
- Equity Investors: 55
- Warrant Investors: 93
Highlight:
- Total Proposed Preferential Issue: ₹3,322.23 crore through equity shares and convertible equity warrants.
What Happened ?
Apollo Micro Systems informed the stock exchanges that certain inadvertent errors had been identified in the Board Meeting Outcome disclosed on July 6, 2026. The company has therefore issued revised Annexures I to IV containing corrected information relating to its proposed preferential allotment.
Following the revisions, the preferential issue now consists of:
- Equity shares allotted through private placement.
- Convertible equity warrants allotted through private placement.
- Updated investor lists.
- Corrected aggregate fundraising amounts.
The company requested stock exchanges to replace the earlier annexures with the revised disclosures.
key details
Revised Preferential Issue Structure:
- Up to 2.28 crore equity shares will be issued on a preferential basis.
- Equity shares are priced at ₹416.60 per share.
- Aggregate equity fundraising amounts to ₹951.14 crore.
- Equity shares are proposed to be allotted to 55 investors.
Note:
- The revised annexure replaces the previously disclosed equity allotment details.
Convertible Warrant Issue:
- Up to 5.69 crore convertible equity warrants will be issued.
- Aggregate warrant issue size stands at ₹2,371.09 crore.
- Warrants are priced at ₹416.60 each.
- Warrants may be converted into one fully paid equity share each.
- Conversion can be exercised in one or more tranches within 12 months from allotment.
- The warrant issue involves 93 investors, including 22 investors participating in both equity shares and warrants.
Note:
- No cancellation or termination of the preferential issue has been reported.
Investor Participation:
Among the significant allottees disclosed:
- Saint Capital Fund
- Nautilus Private Capital Ltd
- Tata Mutual Fund (through Tata Business Cycle Fund)
- Maestro Emerging Fund PCC
- Robust Knights Fund PCC
- Cullinan Opportunities Incorporated VCC Sub Fund
- Opal Global Diversified Fund Limited
- Various institutional, corporate and individual non-promoter investors
The warrant issue also includes promoter participation from:
- Chanakya Reddy Baddam
- Kanishka Reddy Baddam
Note:
- The corrigendum primarily updates the annexures containing investor-wise allotment details.
Risk Analysis
Summary:
- The filing represents a correction to previously disclosed fundraising information rather than a fresh capital raising announcement. Execution of the preferential issue remains subject to applicable regulatory approvals and completion of the allotment process.
Key Risks:
- Preferential allotment is yet to be completed.
- Warrant conversion depends on investors exercising conversion rights within the permitted period.
- Equity issuance and future warrant conversion may result in shareholder dilution.
- Regulatory and procedural approvals remain necessary before completion.
Worst Case:
- If approvals are delayed or investors do not fully complete the transaction, the anticipated capital infusion could be deferred or reduced.
Risk Level: Medium
Company Commentary
- The corrigendum has been issued to rectify inadvertent errors in the July 6, 2026 Board Meeting Outcome.
- Revised Annexures I to IV supersede the earlier versions.
- The proposed preferential issue comprises equity shares and convertible warrants issued through private placement.
- The company requested stock exchanges to take the revised information on record and disseminate it.
Official Exchange Filing: Apollo Micro Systems Limited
