The Board of Directors of the Company has considered and approved the acquisition of equity stake of 50.001% of the paid up share capital of LINGA AGRI TRADING AND MACHINERY PRIVATE LIMITED ....
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Prime Industries Ltd's board, on May 1, 2025, approved acquiring a 50.001% equity stake in Linga Agri Trading and Machinery Private Limited for a cash consideration of about Rs. 2.04 crore. The deal will make Linga a subsidiary of Prime Industries. Linga manufactures farm and agricultural machinery and is based in Coimbatore, Tamil Nadu. Its revenue from operations stood at Rs. 7.24 crore in FY24 and Rs. 19.31 crore (unaudited) in FY25. The acquisition is a strategic move to enter the specialised agricultural sector, which is outside Prime Industries' current main line of business. The transaction is expected to be completed within two months and is not a related party transaction.
This acquisition gives Prime Industries entry into the growing agricultural machinery space and brings in a revenue-generating subsidiary, but the Rs. 2.04 crore size is small relative to typical SME acquisitions. Shareholders should watch for execution within the stated two-month timeline and any future funding or follow-on investments in this new segment.