Prime Ind completes ₹11.86 Cr fundraise; Dr. Narang takes 10% stake

Prime Industries Ltd. has successfully completed a ₹11.86 crore fundraise via a preferential issue. Dr. Uday Narang has joined as a strategic investor, acquiring a 10% stake in the company. Dr. Narang, known for his expertise in precision engineering and manufacturing, particularly in defence and aerospace sectors through his associations with OBSC Perfection and Omega Seiki Mobility, will bring valuable experience to Prime Industries' focus on specialised engineering and high-value industrial opportunities. Prime Industries is actively expanding its presence in advanced manufacturing and technology-led businesses through its equity stakes in Kay Bouvet Engineering Limited, which specializes in heavy engineering for defence, nuclear, and space sectors, and Linga Agri Trading and Machinery Private Limited, focusing on agricultural mechanisation and industrial applications. This strategic investment is expected to bolster Prime Industries' industrial ambitions and contribute to India's industrial growth.