Open offer for acquisition of up to 26% stake at Rs. 698 per share; total consideration up to Rs. 986,35,12,898

Apollo Micro Systems Limited has announced an Open Offer for up to 1,39,77,911 equity shares (26.00% of the equity share capital) of Premier Explosives Limited at INR 698/- per share, plus applicable interest of INR 7.65 per share.

Thu 8 Oct 2026

Offer Size

up to 1,39,77,911 equity shares (26.00% of the equity share capital)

Offer Price

INR 698/- per share, plus applicable interest of INR 7.65 per share

Total Consideration

up to INR 986,35,12,898/- in cash

What was shared

Cumulative Capital Private Limited, the Manager to the Open Offer, has submitted to the exchanges a copy of the Pre-Offer Advertisement-cum-Corrigendum published on October 8, 2026 in the English and Hindi editions of Business Standard, the Mumbai edition of Navshakti (Marathi) and the Hyderabad edition of Nava Telangana (Telugu).

The offer in numbers

• Acquirer: Apollo Micro Systems Limited
• Target Company: Premier Explosives Limited
• Up to 1,39,77,911 fully paid-up equity shares of face value INR 2/- each
• That equals 26.00% of the equity share capital of the Target Company, offered to its public shareholders
• Offer Price: INR 698/- per equity share
• Applicable interest: INR 7.65 per equity share
• Total consideration: up to INR 986,35,12,898/-, payable in cash

What an open offer means

An open offer is an invitation to existing public shareholders of the Target Company to sell their shares to the Acquirer at the stated price. The shares covered here are bought from the public shareholders, so the cash goes to the selling shareholders rather than to the company itself.

How the price adds up

The Offer Price is INR 698/- for each equity share. The applicable interest of INR 7.65 per equity share is added to it, and for the full 1,39,77,911 shares the total consideration works out to up to INR 986,35,12,898/-.

Where it sits in the process

This update is a follow-up to earlier letters dated July 9, 2026, July 16, 2026, July 23, 2026 and October 1, 2026 relating to the Public Announcement, Detailed Public Statement, Draft Letter of Offer and Letter of Offer respectively. The corrigendum sets out updates to several sections of the Detailed Public Statement and the Letter of Offer, and a schedule of activities showing the original and revised dates for the steps in the offer. The advertisement also carries the instructions to public shareholders and the procedure for tendering shares.

What a shareholder may want to check

• Whether their holding falls in the public shareholder category covered by the offer
• The tendering period and other dates in the schedule of activities
• The tendering instructions set out for public shareholders
• The disclosures on the Target Company's business and financials carried in the Detailed Public Statement and Letter of Offer referenced in the corrigendum

Note: this is the Manager to the Open Offer's submission of the published advertisement and corrigendum, and not a change in the offer price or offer size.

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