Prime Industries Raises ₹11.86 Crore from OSM Founder Uday Narang

The fresh capital will also support Prime Industries’ plans to launch an R&D and incubation centre for its Special Product Division (SPD). The centre is expected to strengthen the company’s product development and engineering capabilities.

What is Prime Industries?

Prime Industries is involved in businesses across defence, nuclear and advanced manufacturing. Its portfolio includes minority and majority investments in companies such as Kay Bouvet Engineering and Linga Agri.

Following the investment, Uday Narang is expected to acquire around a 10% stake in Prime Industries.

Funding Details

Prime Industries has raised ₹11.86 crore from Uday Narang. Narang is the founder of Omega Seika Mobility (OSM), which operates in India’s commercial mobility market.

How Will Prime Industries Use the Funding?

The company plans to use the fresh funding to expand its defence, nuclear and precision manufacturing businesses. It will also support the proposed R&D and incubation centre for its Special Product Division.

Company Background

Prime Industries was incorporated in 1992 and was promoted by R.K. Singhania, Madhav Lal Goyal and Harjeet Singh Arora. The company was originally known as Prime Proteins Limited and later changed its name to Prime Industries Limited.

The company has expanded its business interests into areas including defence, nuclear and advanced manufacturing through investments in companies such as Kay Bouvet Engineering and Linga Agri Trading and Machinery.

Uday Narang, founder of Omega Seika Mobility (OSM), has invested ₹11.86 crore in Prime Industries and is expected to acquire around a 10% stake in the company.

Market and Business Growth

Prime Industries is looking to expand its presence across defence, nuclear and precision manufacturing while strengthening its product development and engineering capabilities.

What Happens Next?

The company plans to focus on building manufacturing capabilities and implementing its strategic growth plans.

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