Tezzbuzz Desk Prime Industries Limited is in the news these days regarding its business expansion and change in management. Dr. Uday Narang, founder of Omega Seiki Mobility, has made a big investment in the company. He has purchased a strategic stake of 10 percent in Prime Industries through a preferential issue. The price of this deal was fixed at Rs 42 per share and the total investment is about Rs 11.86 crore.
Under this investment, Dr. Uday Narang has been allotted 24,92,500 equity shares. Apart from this, Kushal Muchhal has also been allotted 2,37,500 shares. After the investment, Dr. Narang's stake is said to be around 11.32 percent. The company has also approved increasing its authorized share capital to Rs 40 crore. These decisions are being linked to the future expansion plans of the company. Prime Industries has also made important changes in its board. The company has appointed Deepak Handa as Additional Director. He has become a part of the board as a non-executive director. Deepak Handa has over 25 years of experience in sectors such as automotive, engineering, heavy machinery and precision manufacturing.
The company is currently expanding its business scope beyond traditional business. Prime Industries started with the vegetable ghee business, but now the company is focusing on expansion in sectors like capital goods, nuclear, defence, aerospace, bio-energy and automotive design. The company has also made changes in its Memorandum of Association i.e. MoA for this. Many important steps have been taken in the last few years towards the expansion of the company. In FY2024, Prime Industries had acquired stake in K-Bovet Engineering. After this, in 2025 the company purchased controlling stake in Linga Agri Trading Machinery. Through these deals, the company is moving towards increasing its presence in engineering and manufacturing related sectors.
Dr. Uday Narang is the founder of Omega Seiki Mobility and also the promoter of OBSC Perfection Limited. He is also said to be associated with Simastra Systems Limited. His business experience spans across mobility, precision engineering and defence-related sectors. His investment in Prime Industries is considered strategically important for the company.Dr. Narang has also expressed interest in the rapid development in the nuclear and defense sector in India. The company is now increasing its focus on special engineering and defense related opportunities. In such a situation, Deepak Handa's industry experience can also be useful in the company's new plans. After Uday Narang's investment and Deepak Handa's entry on the board, the picture of change in the business direction of Prime Industries has become more clear. The company is now moving beyond traditional business and trying to make its place in engineering, defence, aerospace and other emerging sectors.