Rs.986.35 Crores deposited in escrow for open offer; offer oversubscribed by 1.41%
Apollo Micro Systems has deposited Rs.986.35 Crores into a special escrow account with State Bank of India for its open offer to public shareholders of Premier Explosives Ltd.
By ScoutQuest · · 2 min read
- Escrow deposit amount
- Rs.986.35 Crores
- Open offer size
- ~1.4 crore shares (26% of the target company)
- Oversubscription
- 1.41%
What the company has said
Apollo Micro Systems is buying equity shares of Premier Explosives Ltd under a Share Purchase Agreement dated 9 July 2026. As part of that process, it made an open offer to the public shareholders of Premier Explosives for ~1.4 crore equity shares, equal to 26% of the target company.
The offer opened on 12 October 2026 and closed on 26 October 2026. It was oversubscribed by 1.41%, meaning shareholders offered slightly more shares than the offer size.
What has happened now
- An amount equivalent to Rs.986.35 Crores, relating to the acquisition of these ~1.4 crore shares, has been deposited into a special escrow account.
- The account is with State Bank of India and was opened specifically for making payment to the public shareholders of Premier Explosives.
What an open offer means
When a company or promoter buys a large stake in another listed company, rules require it to give the remaining public shareholders a chance to exit at a set price. That chance is the open offer. Shareholders who accept get paid for the shares they tender.
Why the escrow deposit matters
- Money kept in a special escrow account is set aside for the payout, so shareholders who tendered shares know the funds are in place.
- An oversubscription of 1.41% means the offer drew slightly more interest than the number of shares on offer. When an offer is oversubscribed, the shares tendered are accepted on a proportionate basis as per the offer terms.
How to read this
- This is a status update on a step in an acquisition Apollo Micro Systems had already disclosed. It concerns Premier Explosives' public shareholders directly, and Apollo's own shareholders indirectly, since the company is the acquirer paying the consideration.
Key figures to note
- Open offer size: ~1.4 crore equity shares
- Share of the target company: 26%
- Amount deposited in escrow: Rs.986.35 Crores
- Oversubscription: 1.41%
Also from Apollo Micro Systems
Clarifications to EGM notice on preferential issue after NSE observations; allottee list updated
3 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
- Open offer size1,39,77,600 equity shares
- Share of target company in the open offer26%
- Amount deposited in special escrow accountRs. 986.35 Crores
- Open offer oversubscription1.41%
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.