Over 100 pc Returns in Just 90 Days, Apollo Micro Systems Approves Conversion of Warrants

Apollo Micro Systems share price has delivered multibagger returns of 111.06 per cent in just 90 days, as per data available on the Bombay Stock Exchange (BSE) Analytics. The counter climbed north to give a whopping 244.91 per cent returns in the last 180 days, making investors richer with missive gains. The scrip went up by 293.07 per cent on Year-to-date (YTD) rate while it multiplied investors wealth by 359.48 per cent in the last 365 days. The stock moved northward to give a massive 968.44 per cent returns in the last two years and in the last three years 853.21 per cent returns.

The board of the multibagger defence stock has approved the allotment of 29.54 lakh equity shares upon conversion of warrants, it informed the exchanges.

The company in a regulatory filing, said "the Board of Directors of the Company, has on 08th December, 2023, considered and approved the allotment of 29,54,360 (Twenty Nine Lakhs Fifty Four Thousand Three Hundred and Sixty Only) Equity Shares of Re. 1/- each, upon conversion/ exchange of/for such number of Warrants."

"Consequently, the issued and paid up capital of the Company stands increased to Rs 28,23,58,860/- consisting of 28,23,58,860 equity shares of Re. 1/- each," it added.

Corporate Action

The company had earlier announced stock split in the ratio 10:1. The current face value of each stock is Re 1. In September, the company had paid final dividend to its shareholders.

According to a report on PTI, the company is also planning to set up a defence equipment manufacturing facility in Telangana at an investment of Rs 150 crore. The proposed facility will come up on an area of 3 lakh sq ft at its facility in Hyderabad.

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