Apollo Micro Systems clarifies proposed preferential allotment

Apollo Micro Systems Ltd has submitted clarifications to stock exchanges regarding its proposed preferential issue of 22,830,902 equity shares and 56,915,380 equity warrants. The company provided these updates in response to observations from the National Stock Exchange of India (NSE) concerning the notice and explanatory statement for its upcoming Extra-Ordinary General Meeting (EGM).

The updated disclosures include corrections and a detailed table of pre- and post-issue shareholding for the proposed allottees. The allotment involves both promoter-group and non-promoter participants. Notable proposed allottees include Tata Business Cycle Fund, Nautilus Private Capital Ltd, Maestro Emerging Fund PCC, Robust Knights Fund PCC, and M7 Global Fund PCC.

Under the proposed plan, promoter-group entities Chanakya Reddy Baddam and Kanishka Reddy Baddam are each expected to hold 21,450,600 shares, representing 4.809% of the post-issue shareholding. The filing was conducted in accordance with Regulation 30 of the SEBI Listing Regulations.