Apollo Micro Programs board approves Rs 200-cr fund elevating plan

Apollo Micro Programs Ltd (AMSL) is seeking to increase Rs 200 crore to execute its growth plans by means of acquisition route. A call on the fund elevating plan was accredited by the board of administrators at its assembly on Monday.

“The board has accredited proposal to borrow funds to an quantity not exceeding Rs 200 for growth of facility… acquisition of applied sciences or firms,” AMSL stated in a press release on Tuesday.

The board additionally accredited appointment of Sudarshan Chiluveru, the Chief Monetary Officer (CFO), because the Compliance Officer officer of the corporate with impact from June 1, 2023.

Throughout monetary 12 months 2022-23, the corporate has posted a complete earnings of Rs 298.80 crore, greater from Rs 243.95 crore in FY22.

Hyderabad-based AMSL presents technology-based options in sectors like infrastructure, transportation, aerospace and defence, amongst others.