Stock Market Today: Apollo Micro Systems share price crashed over 5% during the intraday trades on Friday despite company announcing a fundraise move.
Apollo Micro Systems share price opened at ₹129.20 on the BSE on Friday, only slightly lower than the previous close of ₹129.60. The Apollo Micro Systems share price however dipped to lows of ₹119.55 which marked a decline of more than 7%
Apollo Micro Systems share price however is up almost 24% during last one month and has rebounded weel from lows seen in the month of November 2024.
Apollo Micro Systems in early morning hours of Friday had informed the exchanges about the outcome of Board meeting on 09 January 2025, pertaining to issue of preferential shares.
The Apollo Micro Systems in its release on the exchanges said that the Board of Directors of the company, at its meeting held on, Thursday, 09th January, 2025 at the registered office of the Company have, considered and approved, the increase of Authorized capital and prefferential share issue.
Preferential shares-
Apollo Micro Systems will issue upto 3,34,18,806 (Three Crores Thirty Four Lakhs Eighteen Thousand Eight Hundred and Six only) Equity shares of Face Value R 1/- (Rupee One only) each at a price of ₹ 114/- each including premium of ₹ 113/- per share aggregating to around ₹381 Crore ( ₹ 3,80,97,43,884 or Three Hundred Eighty Crores Ninety Seven Lakhs Forty Three Thousand Eight Hundred and Eighty Four only) on a preferential basis.
The preferential Allotment for cash consideration will be to the select group of persons or Investors who do not belong to Promoter & Promoter Group of the Company
The Authorized capital of Apollo Micro Systems thereby has been increased from the existing ₹36,00,00,000/- (Rupees Thirty Six Crores Only) divided into 36,00,00,000 (Thirty Six Crores Only) Equity Shares of ₹1 /- (Rupees One Only) each to ₹ 45,00,00,000/- (Rupees Forty Five Crores Only) divided into 45,00,00,000 (Forty Five Crores Only) Equity Shares of ₹ 1/- (Rupee One Only) each by the addition there to a sum of ₹ 9,00,00,000/- (Rupees Nine Crores Only) divided into 9,00,00,000 (Nine Crores) Equity Shares of ₹ 1/- (Rupee One Only).
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