Prime Industries Limited (BSE:519299) entered into a Memorandum of Understanding to acquire 48.69% stake in Kay Bouvet Engineering Limited for INR 98.6 million on June 23, 2023. Prime Industries Limited will acquire 9.8 million shares in Kay Bouvet Engineering Limited. Transaction is already approved by Prime Industries Limited's board of director's. Transaction is expected to complete on September 30, 2024.