This defence company approves allotment of 29.5 lakh equity shares - Details

Aerospace and defence company Apollo Micro Systems has approved the allotment of 29.5 lakh equity shares of Re 1 face value on a preferential basis to the non-promoters group.

These equity shares are listed and admitted to dealings on the exchange from today.

"This is with reference to the application for the listing of further issue of 2954360 Equity shares of Re. 1/- each allotted pursuant to conversion of warrants to be issued on Preferential basis made by the company. We are pleased to inform you that the above equity shares of the Company are listed and admitted to dealings on the Exchange from January 19, 2024 as per the details given below," the company said in an exchange filing. 

Earlier, the board of directors of the company approved the allotment of equity shares on the conversion of warrants to the allottees. The company, in an exchange filing, said that it has considered and approved the allotment of 29,54,360 equity shares upon conversion of warrants. 

According to an exchange filing, the company has approved the allotment of 98.85 lakh convertible warrants. 

Earlier, the aerospace and defence company Apollo Micro Systems declared its quarterly result for the July to September period of the current financial year.

The company said that its standalone net profit in the quarter that ended on September 30, 2023, doubled to Rs 7 crore. The company had clocked a net profit of Rs 3.28 crore during the year-ago period.

The jump in the September 2023 quarter net profit was aided by higher income, the company said in a regulatory filing today.