Prime Industries Limited announced a private placement of 4,703,125 convertible equity warrants at a price of INR 52.5 per warrant for the gross proceeds of INR 246,914,063 on February 23, 2024. The warrants will be allotted on preferential basis. The transaction will include participation from individual investors, Komal Nawandhar Ramniwas Kabra for 18,000 warrants, Dilip Soni for 39,000 warrants, Neetu Bhootra for 38,000 warrants, Anil Kumar Bhootra for 80,000 warrants, Manju Devi Bhootra for 41,875 warrants and other investors. The transaction has been approved by the shareholders of the company. The warrants will be exercisable at an exercise price of INR 157.5 per share.

On April 23, 2024, the company announced that the transaction has been approved by the Extra Ordinary General Meeting of the company.