Apollo Micro Systems launches Apollo Defence Industries for defence ventures

Apollo Micro Systems Ltd (AMSL), a technology solutions provider based in Hyderabad, has established a new entity to conduct operations in the defence sector. The company, known for offering technology-driven solutions across various sectors including infrastructure, transportation, aerospace, and defence, has officially incorporated a subsidiary named Apollo Defence Industries Pvt Ltd (APDIPL) on September 21, 2023.

APDIPL, the newly formed subsidiary, is dedicated to engaging in defence platforms through a collaborative approach involving both domestic and international companies. The step aims to further strengthen AMSL's presence and activities in the defence sector, aligning with the growing demands and advancements within the industry.

Diversifying operations

Promoter Karunakar Reddy has taken an active role in the subsidiary's formation by subscribing to 1,400 equity shares of Rs 10 each in APDIPL, underlining the commitment and involvement of key stakeholders. This strategic move showcases AMSL's dedication to expanding and diversifying its operations to meet the specific requirements and opportunities within the defence domain, the company stated. 

In a recent exchange filing, the company also told investors that the management of the company will be participating in the “Arihant Rising Stars Summit 2023” hosted by Arihant Capital on September 28-29, 2023. According to the filing, the business of the company and general information available in the public domain will be discussed during the conference.  

(With PTI inputs)