Announced Sun, 20 Sept · 14:51 IST
Board approves preferential issue, authorized capital hike, MOA changes
Price
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Price reaction · full curve 14 horizons · vs prior close
—1-day move
₹59.75
prior close
₹62.73
base price
After-mkt
timing
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AI summary
Prime Industries board approved increasing authorized share capital from ₹35 Cr to ₹40 Cr and issuing up to 27.3 lakh equity shares at ₹42 each to two non-promoter investors, raising ₹11.46 Cr. New director Deepak Handa and CS Diksha Tiwari appointed. MOA altered to include automobile manufacturing and defence R&D. 34th AGM set with e-voting cut-off on October 12.
Likely market impact
Preferential issue raises ₹11.46 Cr but dilutes existing shareholders by about 11.5%. New business scope adds automotive and defence segments.