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Apollo Micro Systems, a company that makes technology for the defence and aerospace sectors, has agreed to buy a 41.33% stake in Premier Explosives for ₹1,550 crore.
Founded in 1980, Premier Explosives makes rocket and missile fuel and supplies defence equipment used by India’s military, aerospace and mining industries.
Why it matters: the acquisition helps Apollo Micro become a more complete defence company by expanding into missile and ammunition-related technologies.
It also supports the government’s Make-in-India and Aatmanirbhar Bharat initiatives, which aim to reduce India’s dependence on imported defence equipment.
The announcement comes just days after Apollo Micro approved plans to raise over ₹3,322 crore by issuing new shares and convertible warrants.
The bigger picture: India’s defence industry has grown rapidly over the past decade. Defence production has increased from ₹46,429 crore in FY15 to ₹1.78 lakh crore in FY26, while exports have jumped from ₹686 crore to a record ₹38,424 crore.
