Multibagger defence stock Apollo Micro Systems raises its capital base by converting warrants into equities

Apollo Micro Systems, a small-cap defence company, has increased its capital base through a warrant conversion. The company allotted 1,21,47,964 equity shares to six investors, including select promoters, a whole-time director and non-promoter groups, following the conversion of warrants issued on a preferential basis.

In an exchange filing on November 26, the company said the company’s paid-up equity capital has increased to ₹35.43 crore, comprising 35,43,91,700 shares of face value ₹1 each after the conversion of warrants to equities.

The conversion price for each share was ₹114, with ₹85.50, or 75% of the issue price, paid at the time of conversion.

This allotment is part of the larger preferential issue approved earlier, involving 3.80 crore warrants, each convertible into one equity share.

As of this tranche, as many as 2,08,59,246 warrants, out of 3,80,67,058 due for conversion, have been converted into equity shares of face value of ₹1 each.

Warrants remaining unexercised after 13 months from the date of allotment will lapse, and the amount paid by the warrant holders on such warrants will stand forfeited by the company.

Apollo Micro Systems in June 2025 had allotted 3,80,67,058 warrants, each convertible into one equity share of face value of ₹1 each on a preferential basis to 30 allottees.

Meanwhile, on November 25, Apollo Micro Systems said it had received two orders totalling ₹27.37 crore. The first order is worth ₹5.77 crore from the Defence Research and Development Organisation (DRDO), while the second order of ₹21.6 crore was from a private company.

Apollo Micro Systems share price trend

The small-cap defence stock has given multibagger returns of over 980% over the last three years. In the last one year, the stock has surged 180% despite stock market volatility.

It hit a 52-week low of ₹92.50 on December 23 last year and a 52-week high of ₹354.65 on September 17 this year.

On Thursday, November 27, Apollo Micro Systems share price dropped by nearly 2% in intraday trade on the BSE.

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