Prime Industries’ board has authorized a preferential share situation value as much as Rs 11.47 crore, with Omega Seiki Mobility founder Uday Narang proposed as the biggest allottee, because theBSE-listed firm seems to be to broaden into specialised engineering and manufacturing.

The corporate plans to situation as much as 27,30,000 fairness shares at Rs 42 every to 2 non-promoter investors, in keeping with its alternate submitting. Narang is proposed to obtain 24,92,500 shares, whereas Kushal Muchhal will obtain 2,37,500 shares.

The proposed situation will increase Rs 11,46,60,000, or about Rs 11.47 crore, and stays topic to shareholder and different relevant approvals.

Prime Industries issued a separate media launch describing the fundraise as Rs 11.86 crore. Nonetheless, the detailed regulatory submitting states that 27.30 lakh shares can be issued at Rs 42 every, which quantities to Rs 11.466 crore. The submitting additionally exhibits post-issue paid-up share capital of about Rs 11.87 crore.

Narang’s stake to rise to 11.32%

Narang already holds 1,93,342 shares in Prime Industries, representing about 0.92% of its current fairness capital.

If the proposed allotment is accomplished, his holding will improve to 26,85,842 shares, giving him an 11.32% stake within the post-issue fairness capital. Muchhal will maintain 1%.

Narang based Omega Seiki Mobility in 2018. The corporate operates within the electrical industrial car sector and has developed electrical three-wheelers and different mobility merchandise. He’s additionally related to the Anglian Omega Group, which traces its operations to a bright-bar manufacturing unit established in Faridabad in 1971.

Prime Industries has been constructing its publicity to engineering and manufacturing via investments in different companies.

It acquired a 48.69% stake in Kay Bouvet Engineering in 2023, making the heavy engineering firm an affiliate. Kay Bouvet offers design, engineering and manufacturing providers for nuclear, defence and house functions, amongst different sectors.

Prime Industries additionally acquired a 50.001% stake in Linga Agri Buying and selling and Equipment in 2025, making it a subsidiary. Linga operates in areas together with agricultural equipment, food-processing gear and waste-management options.

Enlargement into defence and nuclear engineering

Alongside the preferential situation, Prime Industries’ board authorized modifications to the corporate’s predominant object clause to broaden the actions it may well pursue.

The proposed additions embody the design, testing and manufacturing of vehicles, together with electrical automobiles; manufacturing and buying and selling in ferrous and non-ferrous metals; and analysis and growth of indigenous precision-engineered parts for nuclear and defence functions.

The modifications to the thing clause are additionally topic to shareholder approval.

The corporate has additionally stated it’s establishing an R&D incubation centre to develop and design parts for its Particular Function Division because it seeks to strengthen its capabilities in specialised engineering and indigenous industrial applied sciences.

The board has additionally authorized a proposal to extend Prime Industries’ authorised share capital from Rs 35 crore to Rs 40 crore. The rise is topic to shareholder approval.

For the monetary yr ended March 2026, Prime Industries reported consolidated income from operations of Rs 90.59 crore and web revenue of about Rs 16.01 crore. Its complete consolidated income, together with different revenue, stood at Rs 93.04 crore.

The proposed preferential situation kinds a part of the corporate’s broader effort to construct capabilities throughout precision manufacturing, defence and nuclear-related engineering, however the brand new shares can’t be allotted till the required approvals are secured.