Independent directors' committee views open offer price of Rs.705.65 per share as fair and reasonable

Premier Explosives' independent directors' committee has given its view on the open offer by Apollo Micro Systems Ltd.

Fri 2 Oct 2026

Shares under open offer

Up to 1,39,77,911 equity shares, i.e. 26.00% of the equity share capital, face value INR 2/- each

Offer price per share

Rs.698/- per share

Applicable interest per share

Rs.7.65

Aggregate offer price per share

Rs.705.65 per share, in cash

Independent directors' committee view

price as fair and reasonable and not prejudicial to public shareholders

What has been announced

Premier Explosives Limited has shared the recommendations of its Committee of Independent Directors (IDC) on the open offer made by Apollo Micro Systems Limited to the public shareholders of Premier Explosives Limited. The recommendations were published on October 02, 2026 in Business Standard (English and Hindi, all editions), Navshakti (Marathi, Mumbai edition) and Nava Telangana (Telugu, Hyderabad edition).

The offer in numbers

• Up to 1,39,77,911 fully paid-up equity shares of face value INR 2/- each.
• That is 26.00% of the equity share capital of the target company.
• Offer price: Rs.698/- per equity share.
• Applicable interest: Rs.7.65 per equity share.
• Aggregate price: Rs.705.65 per equity share, payable in cash.

What the committee has said

• The Committee of Independent Directors is of the view that the open offer price of Rs.705.65 per equity share is fair and reasonable and is not prejudicial to the interests of the public shareholders of the target company.
• Shareholders have been advised to consider the open offer and take an informed decision on the basis of the Letter of Offer and the other offer documents.

How an open offer works, in simple terms

In an open offer, the acquirer gives public shareholders a formal window to tender their shares at a stated price during the offer period. Whether to tender or stay invested is each shareholder's own decision. The independent directors' committee's view is one input into that decision, along with the price, the number of shares being bought and the shareholder's own situation.

Reading this update

The update is an update on the open offer: it places the offer terms and the independent directors' committee's opinion on record and confirms the newspaper publication of those recommendations. For a retail shareholder, the numbers above — the share count, the percentage and the per-share price — are the ones to track.

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.