Prime Industries | ₹11.86 Cr / ~$1.3M (Preferential Issue)

Founders: — (BSE-listed company; strategic investor: Dr. Uday Narang, Founder of Omega Seiki Mobility)

Sector: Defence / Nuclear / Precision Manufacturing

What they do

→ Holds minority and majority stakes across defence, nuclear and advanced manufacturing businesses

→ Portfolio includes Kay Bouvet Engineering (heavy engineering for nuclear, defence and space) and Linga Agri Trading and Machinery

→ Planning an R&D and incubation centre for its Special Product Division (SPD) to strengthen engineering capabilities

The Funding

→ Raised ₹11.86 Cr via a preferential share issue

→ Dr. Uday Narang, Founder of Omega Seiki Mobility (OSM) and promoter of OBSC Perfection Ltd., emerges with ~11% stake

→ A second investor, Kushal Muchhal, also received a smaller allotment (~1% stake)

Why it matters

→ Narang brings a precision manufacturing platform - CNC machining, casting, forging, stamping that plugs directly into Prime Industries' nuclear and defence ambitions

→ Signals EV mobility capital rotating into India's defence and advanced manufacturing buildout

→ Prime Industries is also widening its charter to include EV design and manufacturing

→ Comes as India pushes hard on domestic self-reliance in defence and nuclear components

Does an EV mobility founder's expertise actually translate to defence and nuclear manufacturing?