New Delhi, June 3 -- Apollo Microsystems share price rose nearly 2 per cent to Rs.198.39 apiece on Tuesday after hitting an intraday low from Rs.194.63.

The multibagger defence stock witnessed surge on June 3 after the company announced that the board has approved the allotment of 2.70 crore equity shares on a preferential basis.

According to the exchange filing, the issue price has been set at Rs.114 each, including a Premium of Rs.113 per share.

"Considered and approved the allotment of 2,70,42,894 (Two Crores Seventy Lakhs Forty Two Thousand Eight Hundred and Ninety Four) Equity shares of face value of Re. 1/- each of the Company on preferential basis at an issue price of Rs. 114/- each (Rupees One Hundred and Fourteen only) includi...