Apollo Defence Industries Private Ltd., the subsidiary of Apollo Micro Systems Ltd., said it has signed a share purchase agreement to acquire full ownership of IDL Explosives Ltd from the Hinduja Group, in an all-cash transaction.
This purchase involves 78.65 lakh equity shares at ₹136.04 each amounting to ₹107 crore.
Once acquisition is completed, Apollo Defence will own 100% of IDL Explosives. This acquisition is a key step towards becoming a Tier-I Original Equipment Manufacturer (OEM) for weapon systems, the company said.
B Karunakar Reddy, Managing Director, Apollo Micro Systems Ltd. said, “This acquisition opens up new routes towards vertical integration and full-spectrum capability enablement, allowing AMS to offer end-to-end solutions across the entire weapon system lifecycle, from electronics and arming mechanisms to complete munitions and integrated platforms.”
“Together we are poised to unleash the next chapter ..” he added,
IDL Explosives is one of the largest diversified transnational conglomerates with investments across several sectors and a presence in over a 100 countries.
The company is a manufacturer of full range of packaged and bulk explosives required for mining and infrastructure projects. It also offers an extensive range of cartridge explosives.
The company had posted a turnover of ₹623 crore in FY24 and holds a net worth of ₹10 crore. Over the past three years, its revenues have seen major growth from ₹395.38 crore in FY22.
Published – May 06, 2025 08:55 pm IST
