MUMBAI — Prime Industries Limited has successfully concluded a strategic fundraise of approximately ₹11.86 crore via a preferential share issue, welcoming prominent entrepreneur Dr. Uday Narang as a key investor with roughly a 10% equity stake.  

The capital infusion marks a pivotal turning point for the BSE-listed firm as it pivots aggressively toward high-value industrial segments, including Defence, Nuclear applications, and precision engineering.

  

Key Highlights

Strategic Stake Acquisition: Dr. Uday Narang – founder of Omega Seiki Mobility (OSM) and key figure behind OBSC Perfection Ltd. – has secured a substantial position in the company.  

 Targeted Growth Capital: The ₹11.86 crore injection is earmarked to fuel expansion plans and establish a dedicated R&D and incubation hub for the company’s Special Product Division (SPD).  

 Reinforced Leadership: The development coincides with structural board changes, including the onboarding of automotive veteran Deepak Handa to steer manufacturing operations.  

Fueling High-End Industrial Ambitions

The newly secured capital will directly support Prime Industries’ roadmap to scale up specialized engineering capabilities. A core pillar of this expansion is the proposed setup of an R&D and incubation center tailored for the Special Product Division (SPD), aimed at engineering advanced solutions for critical sectors like defense and nuclear tech.  

Dr. Narang’s entry brings deep industry alignment. His extensive background in electric mobility via Omega Seiki Mobility and precision component manufacturing through OBSC Perfection Ltd. (specializing in CNC machining, forging, and stamping for aerospace and defense) positions Prime Industries to aggressively leverage cross-industry synergies.  

Strengthening the Growth Pipeline

Prime Industries already maintains strategic minority and majority holdings in specialized manufacturing entities such as Kay Bouvet Engineering Ltd. and Linga Agri, anchoring its presence in heavy engineering and mechanized industrial applications.

  

Complementing these investments, automotive leader Deepak Handa joins the fold to drive operations and business development. Together with Dr. Narang’s strategic backing, Prime Industries is positioning itself to capture lucrative opportunities in advanced manufacturing and secure long-term, sustainable growth.  

Disclaimer: Transaction specifics and shareholding figures should be independently verified through official BSE stock-exchange filings.