Announced Sun, 20 Sept · 14:46 IST
Board okays capital raise via preferential issue, director resigns
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
—1-day move
₹59.75
prior close
₹62.73
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0+0.0+0.0——————————
Up moveDown movePending
AI summary
Prime Industries board approved raising authorised capital from Rs 35 Cr to Rs 40 Cr and issuing 27.3 lakh equity shares at Rs 42 each to non-promoters, totalling about Rs 11.46 Cr. Director Harjeet Singh Arora resigned effective Sept 19. Deepak Handa joined as Additional Director and CS Diksha Tiwari as Company Secretary. The company plans to enter automotive components, metals, nuclear and defence sectors.
Likely market impact
Preferential issue at Rs 42 per share may dilute existing holders. MOA change signals diversification into automotive, defence, and nuclear sectors.