Apollo Micro Systems Limited has formally announced the acquisition of IDL Explosives Limited through its wholly owned subsidiary, Apollo Defence Industries Private Limited. This move aligns with the company’s strategic intent to strengthen its presence in the defence manufacturing sector, particularly in high-impact explosive systems essential for artillery and missile technologies.
On May 2, 2025, Apollo Defence Industries executed a Share Purchase Agreement (SPA) to acquire 100% equity in IDL Explosives Limited, a firm engaged in the production of bulk explosives for mining and infrastructure.
The acquisition, valued at ₹107 crores through cash consideration, reflects Apollo’s long-term vision of becoming a Tier-I Original Equipment Manufacturer (OEM) for integrated weapon systems. This transaction not only enhances Apollo’s manufacturing reach but also positions it as a comprehensive solution provider from electronics to explosives in the defence ecosystem.
IDL Explosives Limited, incorporated on 22 September 2010, is a subsidiary of GOCL Corporation, under the Hinduja Group. The company primarily operates in India and specialises in industrial and defence-grade explosives. Its turnover for FY 2023–24 stood at ₹623 crores with a net worth of ₹10 crores.
The acquisition does not qualify as a related party transaction, and none of Apollo’s promoters hold any prior interest in the entity. The transaction is subject to customary closing conditions and is expected to conclude within two to three months.
Read More: Apollo Micro Systems Entered Into a Consortium Pact with Redon Systems
As of May 05, 2025, at 10:15 AM, Apollo Micro share price was trading at ₹123.21 per share, reflecting a surge of 5.86% from the previous closing price. Over the past month, the stock has surged by 13.93%.
With this acquisition, Apollo Micro Systems fortifies its position in India’s defence manufacturing sector. The integration of IDL Explosives is a significant step in its pursuit of developing indigenous capabilities in strategic weapon and explosive systems.
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Published on: May 5, 2025, 2:07 PM IST
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