Apollo Micro Systems approves Rs 200 cr fundraising plan for expansion

Apollo Micro Systems approves Rs 200 cr fundraising plan for expansion

The board also approved the appointment of Sudarshan Chiluveru, the Chief Financial Officer (CFO), as the Compliance Officer of the company with effect from June 1, 2023.

PTIUpdated: Tuesday, May 30, 2023, 01:32 PM IST
article-image
Apollo Micro Systems approves Rs 200 cr fundraising plan for expansion | LinkedIn

Apollo Micro Systems Ltd (AMSL) is looking to raise Rs 200 crore to execute its expansion plans through acquisition route.

A decision on the fundraising plan was approved by the board of directors at its meeting on Monday.

"The board has approved a proposal to borrow funds to an amount not exceeding Rs 200 for expansion of facility... acquisition of technologies or companies," AMSL said in a statement on Tuesday.

The board also approved the appointment of Sudarshan Chiluveru, the Chief Financial Officer (CFO), as the Compliance Officer of the company with effect from June 1, 2023.

During the financial year 2022-23, the company has posted a total income of Rs 298.80 crore, higher from Rs 243.95 crore in FY22.

Hyderabad-based AMSL offers technology-based solutions in sectors like infrastructure, transportation, aerospace and defence, among others.

RECENT STORIES

Make Your Travel Easy With These Apps

Make Your Travel Easy With These Apps

Why You Should Invest In Gold? Read On To Find Out More

Why You Should Invest In Gold? Read On To Find Out More

Volkswagen Taigun Offers Massive Discounts Up to Rs 1.10 Lakh

Volkswagen Taigun Offers Massive Discounts Up to Rs 1.10 Lakh

Top Indian Corporations & MNCs Across Banking, Insurance, FMCG And Telecom Sectors File Appeals...

Top Indian Corporations & MNCs Across Banking, Insurance, FMCG And Telecom Sectors File Appeals...

Jeep Wrangler Facelift Set to Debut: Launch Date Confirmed for April 22

Jeep Wrangler Facelift Set to Debut: Launch Date Confirmed for April 22