New Delhi, July 9 -- Apollo Micro Systems on Thursday announced that it has entered into a definitive Share Purchase Agreement (SPA) with the promoter shareholders of Premier Explosives to acquire a 41.33% stake in the company for approximately Rs.1,550 crore in an all-cash deal, subject to customary closing adjustments.

The acquisition forms part of Apollo Micro Systems' long-term strategy to build an integrated, end-to-end indigenous defence platforms ecosystem in line with the Government of India's Aatmanirbhar Bharat and Make in India initiatives.

In a regulatory filing, the company said its Board of Directors approved the execution of the Share Purchase Agreement for the acquisition of 2.2 crore equity shares of face value Rs.2 eac...