Prime Industries

Prime Industries' board on September 20 approved a preferential issue of up to 27.3 lakh equity shares at Rs42 each aggregating Rs11.47 crore to two non-promoter investors, subject to shareholder approval at the annual meeting. Uday Narang was allocated 24.925 lakh shares for a post-issue holding of 11.32%, and Kushal Muchhal 2.375 lakh shares for 1.00%, while authorised capital was raised to Rs40 crore. The board also approved expanding the object clause into automobiles, steel and nuclear and defence components, appointed Deepak Handa as additional non-executive director and noted the resignation of Harjeet Singh Arora. The proposal came nine days after nine promoters sold 41.92 lakh shares or 19.95% in the open market, reducing the promoter group to 6.11% from 26.07%. A Delhi-based non-promoter, Runit Exim, acquired 11 lakh shares or 5.23% on the same day the promoters sold. Consolidated total income was Rs93.03 crore in FY26, driven by the 51% subsidiary Linga Agri Trading and Machinery, against standalone operating revenue of Rs7.95 crore.

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Prime Industries' board approved a preferential issue of up to 27.3 lakh equity shares of Rs5 face value at Rs42 each, aggregating up to Rs11.47 crore to two non-promoter allottees. Uday Narang accounted for 24.93 lakh shares, taking his holding to 26.86 lakh shares or 11.32% of post-issue capital, while Kushal Muchhal accounted for 2.38 lakh shares or 1.00%, with post-issue capital at 2.37 crore shares subject to shareholder approval at the annual meeting. The board also approved an increase in authorised capital to Rs40 crore, expansion of the memorandum to cover automobiles, steel and precision components for nuclear and defence applications, and appointments including a non-executive director, company secretary and internal auditor. The company had earlier funded itself through convertible warrants, with 53.5 lakh Rs13 warrants converted in January 2025 and 17.25 lakh Rs210 warrants forfeited in November 2025 with about Rs9.05 crore retained. Consolidated total income was about Rs93 crore in FY26, with operating revenue of about Rs90.6 crore driven by the 51% subsidiary Linga Agri Trading and Machinery, while the standalone parent remained a securities and trading operation.

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Prime Industries scheduled a board meeting for September 20 to consider a preferential issue of equity shares, convertible warrants or other instruments. The board would also consider increasing authorised share capital from Rs35 crore to Rs40 crore. The company had earlier funded itself through convertible warrants, with 53.50 lakh shares converted in January 2025 and 17.25 lakh Rs210 warrants forfeited in November 2025 with about Rs9.05 crore retained. Its 51% subsidiary Linga Agri Trading and Machinery drove consolidated total income of Rs93.03 crore in FY26 and held orders of Rs148.6 crore at the FY25 annual report stage. Promoter group holding fell to 6.11% after a 19.95% open-market sale on September 11, while Runit Exim acquired 5.23% the same day.

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Prime Industries' promoter group sold 41.9 lakh shares representing 19.95% of equity on 11 September, reducing its combined holding to 12.8 lakh shares or 6.11% from 26.07%. The sellers included Rajinder Kumar Singhania, Puneet Singhania, Harneesh Kaur Arora, Saintco India LLP and Master Trust Limited among nine transferors. Runit Exim Private Ltd acquired 11 lakh shares representing 5.23% through the open market on the same date. Prime's consolidated operating revenue of about Rs 90.6 crore in FY26 came from its 51% subsidiary Linga Agri Trading and Machinery, which was engaged in defence fabrication including work for BEML alongside waste management and agricultural machinery and held orders of Rs 148.6 crore at the close of FY25. The standalone parent remained a securities and investment operation with operating revenue of Rs 7.95 crore and other income of Rs 2.89 crore in FY26.

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Runit Exim Private Limited bought 11 lakh Prime Industries shares in the open market on 11 September, taking a 5.23% stake. The buyer had held no shares previously and was not part of the promoter group. Prime Industries’ 51%-owned Linga Agri subsidiary accounted for the company’s operating business, spanning defence fabrication, waste management, food-processing equipment and agricultural machinery. The group reported FY26 consolidated revenue of ₹90.6 crore and had an order book of ₹148.6 crore at the end of FY25.

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Prime Industries appointed Sanjiv Malik as an additional executive director to be designated managing director, subject to shareholder approval. It also appointed Akshay Singhla & Associates as statutory auditor to fill the casual vacancy created by the resignation of Bhushan Aggarwal & Co. Malik held a B.Tech in Textile Technology and had more than 30 years of experience in textile manufacturing, production, quality control and operations. On 22 August, R.K. Singhania moved from managing director to non-executive director while the company's only whole-time director resigned.

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Prime Industries appointed Sanjiv Malik as an additional executive director to be designated managing director from 8 September 2026, subject to shareholder approval. The board also appointed Akshay Singhla & Associates as statutory auditor to fill the casual vacancy caused by Bhushan Aggarwal & Co.'s resignation. Malik has more than 30 years of experience in textile and related industries and held no shares in Prime Industries. The appointment followed the August board change in which Rajinder Kumar Singhania moved from managing director to non-executive director and the sole whole-time director resigned.

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Prime Industries’ board accepted the resignation of Whole-Time Director Rama Nand Gupta, effective August 22, 2026, citing other professional commitments. It also approved the redesignation of Managing Director Rajinder Kumar Singhania as a Non-Executive Director from the same date, citing personal commitments and a realignment of strategic responsibilities.

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Feb 18 (Reuters) - Prime Industries Ltd PRID.BO:

• APPOINTS DIVYA PUNIA AS CFO

Source text: ID:nBSE8RFS4j

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Feb 23 (Reuters) - Prime Industries Ltd PRID.BO:

• APPROVED ISSUE OF WARRANTS UP TO 987.7 MILLION RUPEES ON PREFERENTIAL BASIS

Source text for Eikon: ID:nBSE16PLt

Further company coverage: PRID.BO

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Prime Industries Ltd PRID.BO:

• PRIME INDUSTRIES - TO CONSIDER FUND RAISING

Source text for Eikon: ID:nBSEbSSlBx

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April 4 (Reuters) - Prime Industries Ltd PRID.BO:

• ACQUIRES 20.71% STAKE IN PRIME INDUSTRIES FOR 4.4 MILLION RUPEES

Source text for Eikon: ID:nBSE504ZLg

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