Shares of aerospace and defence company Apollo Micro Systems Ltd (AMSL) are in focus today as the company has informed exchanges that its board of directors has considered and approved the allotment of 2.70 crore equity shares on a preferential basis. The counter opened in the green today at Rs 198.55 on the BSE against the previous close of Rs 197.20. It reached a high of Rs 201 a 1.92 per cent gain from the last trading price. However it fell later amid profit booking and touched the intraday low of Rs 191. Last seen it was trading at Rs 196.25. Earlier on Monday the stock hit a fresh 52-week high of Rs 202. The 52-week low of the counter is Rs 88.10. Issue Price of Equity Shares According to the companys information the issue price of these equity shares is Rs 114 each including a Premium of Rs 113 per share. This aggregates to 308.28 crore. The company has received subscription money of Rs. 3082889916/—against the issue of 27042894 Equity Shares the filing reads. Convertible Equity Warrants The board has also approved the allotment of 3.80 core convertible equity warrants on a preferential basis at an issue price of Rs 114 aggregating to Rs 108.4 crore. Signs MoU with Munitions India Earlier the company signed a promising agreement with state-owned Munitions India. This partnership is set to develop advanced defence systems positioning the company for growth in both domestic and international markets. As part of the Memorandum of Understanding (MoU) both entities will identify and pursue opportunities for the design development and deployment of advanced defence technologies the company said in a regulatory filing. The Hyderabad-based company has also solidified its position in the market by forming a strategic alliance with Troop Comforts. This agreement involves joint manufacturing marketing and development of advanced air-defence systems including anti-drone and anti-aircraft solutions.