BSE through its letter dated 02.05.2025 has granted an Trading Approval for Trading of 5350000 equity shares issued pursuant to conversion of 5350000 warrants.
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Prime Industries Ltd has received trading approval from BSE for 53,50,000 equity shares of Rs. 5 face value, issued at a premium of Rs. 8 (total issue price of Rs. 13 per share) to promoters and non-promoters on a preferential basis pursuant to conversion of warrants. The shares were allotted on January 1, 2025, and trading commenced on Monday, May 5, 2025. The new shares carry distinctive numbers 15653401 to 21003400 and will rank equally with existing shares. Of these, 2,00,000 shares are locked in until November 15, 2026, and 51,50,000 shares are locked in until November 15, 2025.
The listing increases the company's outstanding share count and could dilute existing shareholders, but the multi-year lock-in on promoter and non-promoter holdings limits near-term selling pressure on the stock.