THE BOARD TOOK NOTE OF EXECUTION OF SHARE PURCHASE AGREEMENTS THROUGH WHICH IT HAS ACQUIRED AN EQUITY STAKE EQUIVALENT TO 50.001% IN LINGA AGRI TRADING AND MACHINERY PRIVATE LIMITED.
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Prime Industries Limited has acquired a 50.001% equity stake (80,001 shares) in Linga Agri Trading and Machinery Private Limited, a Coimbatore-based company that manufactures farm and agricultural machinery and implements. The deal cost approximately Rs. 2.04 Crores and was paid entirely in cash. Linga's revenue from operations grew sharply from Rs. 7.24 Crore in FY24 to Rs. 19.31 Crore in FY25 (unaudited). The acquisition is a strategic move by Prime Industries to enter the specialized agricultural sector, which is outside its main line of business. The transaction has already been executed and is not a related-party transaction.
This acquisition marks Prime Industries' entry into the agricultural machinery sector, potentially diversifying its revenue base. With Linga showing nearly 2.7x revenue growth in FY25, the stake offers exposure to a growing business, though the small deal size (Rs. 2.04 Cr) limits immediate impact on the listed entity's financials.