Apollo Micro Systems to Setup Integrated Plant for Ingenious Defence Systems, Signs Agreement with SBI

Earlier, Telangana Minister for Industries and Commerce and Legislative Affairs Duddilla Sridhar Babu Garu laid the foundation stone of the facility, named IPiDS (Integrated Plant for Ingenious Defence Systems).

Apollo Micro Systems (AMS), a defence and aerospace company, has informed exchanges that it has entered into a Term Loan Agreement with the State Bank of India (SBI), the country’s largest public sector bank, for implementation of the upcoming project, Integrated Plant for Ingenious Defence Systems (IPiDS) at Hardware Park, Hyderabad

“As per our earlier intimation dated 21st February 2024 regarding the sanction of the term loan and renewal cum enhancement of working capital limits from State Bank of India, we are pleased to inform you that the company has now entered into a Term Loan Agreement with State Bank of India,” the company said in the exchange filing.

Earlier, Telangana Minister for Industries and Commerce and Legislative Affairs Duddilla Sridhar Babu Garu laid the foundation stone of the facility, named IPiDS (Integrated Plant for Ingenious Defence Systems).

The manufacturing facility shall be built on around 5 acres of land with a total built-up area of 3,50,000 square feet with end-to-end manufacturing and qualification set-up as per international standards with a total investment of Rs 210 crore, according to the statement.

“The company intends to manufacture missiles and its sub-systems and also undertake MRO of the weapons in this facility. The company is also working closely to manufacture unmanned aerial systems and unmanned ground systems through this facility,” it said.

The facility is expected to provide employment to around 400 people.