Clarifications to EGM notice on preferential issue after NSE observations; allottee list updated
Apollo Micro Systems shared clarifications to its EGM notice after NSE observations on its preferential issue.
By ScoutQuest · · 1 min read
- Equity Shares to be Allotted
- 1,74,73,402
- Convertible Warrants to be Allotted
- 5,68,99,880
- Post-Issue Shareholding by Allottees
- 21.00%
- Promoter Group Warrant Allocation (Each)
- 1,30,50,000 warrants to Chanakya Reddy Baddam and Kanishka Reddy Baddam
- Promoter Group Post-Issue Holding (Each)
- 4.81%
What happened
The company has shared clarifications to its EGM notice (dated 6 July 2026) and corrigendum, after receiving observations from NSE on its application for in-principle approval of a proposed preferential issue. The EGM itself was held on 4 August 2026, where members considered six resolutions, including raising authorised capital, issuing equity shares and convertible warrants on a preferential basis, and borrowing, security and loan/investment limits.
Key clarifications
- Application money from investors will be kept in a separate bank account and used only for adjustment against allotment.
- Since the issue is expected to exceed 5% of post-issue fully diluted capital, a valuation was obtained from a Registered Valuer.
- Warrants will go to promoter group members Baddam Kanishka Reddy and Baddam Chanakya Reddy, and to Company Secretary G. Seshadri Vasan. No other promoter, director or KMP intends to subscribe.
- An updated list of allottees and their post-issue holdings has been provided.
Issue size from the annexure
- 1,74,73,402 equity shares to be allotted
- 5,68,99,880 convertible equity warrants to be allotted
- Allottees together would hold 21.00% after the issue
Notable allottees
- Chanakya Reddy Baddam and Kanishka Reddy Baddam (promoter group): 1,30,50,000 warrants each, moving each from 2.26% to 4.81%
- Opal Global Diversified Fund: 1,20,00,000 warrants (2.69%)
- Five foreign funds incl. Nautilus Private Capital and Cullinan Opportunities: 25,00,000 shares each plus warrants
- Tata Business Cycle Fund: 12,00,000 shares (0.27%)
What it means
This is mainly a disclosure update to satisfy the exchange before approval. Existing shareholders should note the issue, once warrants convert, will expand the share base meaningfully.
Also from Apollo Micro Systems
Rs.986.35 Crores deposited in escrow for open offer; offer oversubscribed by 1.41%
2 Nov 2026
Transcript of 26th October, 2026 investor conference call shared with exchanges
28 Oct 2026
Apollo Micro stock up 5% on the back of volumes
27 Oct 2026
More numbers
- Equity shares to be allotted1,74,73,402
- Warrants to be allotted5,68,99,880
- Allottees' post-issue holding21.00
- Warrants to each promoter group member1,30,50,000
- Each promoter group member pre-issue stake2.26
- Each promoter group member post-issue stake4.81
- Opal Global warrants1,20,00,000
- Opal Global post-issue stake2.69
- Tata Business Cycle Fund shares12,00,000
- Valuation threshold of diluted capital5%
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.