Also Read | Defence stock Apollo Micro Systems rises 4% after this MoU update. Details here
Its subsidiary, Apollo Strategic Technologies Pvt Ltd (ASTPL), partnered with Dynamic Engineering and Design Inc. (USA) for co-development and potential licensed production of BM-21 Grad ER rocket motors, supporting the Make in India initiative. Apollo has also developed the 122 mm rocket warhead in-house, with trials and full-scale production planned by mid-2026. Additionally, it was approved as the production agency for the Multi-Influence Ground Mine (MIGM) "Vighna" and entered a technology transfer agreement with DRDO for the NASM-SR missile warheads.