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Multibagger defence stock: Apollo Micro Systems share price surged over 7% on Monday's session after the company, via its wholly owned subsidiary Apollo Defence Industries Private Limited (ADIPL), entered into a Share Purchase Agreement to take complete ownership of IDL Explosives Limited for ₹107 crore in a cash-only transaction.

The announcement was made on May 2, 2025. The completion of the transaction is anticipated to occur within two to three months, subject to regulatory and corporate approvals.

“Apollo Group is proud to announce a significant enhancement to its strategic portfolio through a landmark alignment with India’s First Explosives Company- A Pioneering, Indian-owned enterprise with a distinguished legacy of over 64 years. This esteemed organization, a proud member of the globally renowned Hinduja Group, brings unparalleled expertise and heritage to the partnership,” said the company in an exchange filing.

Through this acquisition, Apollo Micro Systems intends to incorporate explosives into its defense production process. This will enable the company to provide a wider range of systems in the areas of artillery, missiles, and high-impact weaponry.

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