| Apollo Micro Systems announced that its subsidiary Apollo Defence Industries has concluded the acquisition of IDL Explosives. With completion of the corporate action IDL Explosives now becomes the Step Down Subsidiary of Apollo Micro Systems. IDL Explosives has manufacturing facilities in Rourkela and many other locations. Apollo Group intends to expand and strengthen the business in line with its strategic plans in the rapidly growing defence explosive sector. This acquisition signifies the beginning of a strategic consolidation, which is expected to commence from Q3 FY2026. With this acquisition, Apollo Group aims to strengthen its footprint in the defence sector by adding the critical capabilities of next generation high end Defence grade explosives, propellants and warhead systems to its already fortified expertise in Weapon System Electronics and Platforms. |