Prime Cable Industries Gets BIS Approval for 33KV Cable Production Capacity Expansion

Prime Industries has achieved a significant operational milestone by securing approval from the Bureau of Indian Standards (BIS) to expand its cable production capacity to 33KV. This regulatory certification marks an important step forward for the company's manufacturing capabilities and market positioning.

Regulatory Approval Details

The BIS approval enables Prime Industries to manufacture cables with enhanced voltage specifications up to 33KV. This certification demonstrates the company's commitment to meeting stringent quality standards and regulatory compliance requirements in the electrical cable manufacturing sector.

Parameter	Details
Approval Authority	Bureau of Indian Standards (BIS)
Enhanced Capacity	33KV cable production
Certification Type	Production capacity expansion

Strategic Implications

The expanded production capacity to 33KV represents a significant enhancement to Prime Industries' manufacturing portfolio. This development positions the company to serve a broader range of electrical infrastructure projects and meet the growing demand for higher voltage cable solutions in the Indian market.

The BIS certification validates the company's technical capabilities and manufacturing standards, potentially opening new market opportunities and strengthening its competitive position in the electrical cable industry. This approval reflects Prime Industries' focus on expanding its product range and enhancing operational capabilities to serve diverse customer requirements.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.04%	+18.62%	+38.93%	-18.02%	-70.64%	+1,758.74%

Prime Industries Limited , a company listed on the Indian stock exchange, has announced a significant corporate action involving the forfeiture of convertible warrants. The company's Board of Directors has approved the forfeiture of 17,25,000 convertible warrants after the warrant holders failed to exercise their conversion options within the stipulated 18-month deadline.

Key Details of the Forfeiture

Number of Warrants Forfeited: 17,25,000
Deadline for Conversion: November 13, 2025
Affected Parties: 33 warrant holders including individuals, Hindu Undivided Families (HUFs), and entities
Forfeited Amount: 25% of the warrant price paid during allotment (Rs. 210 per warrant)

Impact on Warrant Holders

The forfeiture affects a diverse group of investors, ranging from individual holders to corporate entities. Here's a breakdown of some of the major warrant holders impacted:

Warrant Holder	Number of Warrants Forfeited
Wallbert Trading and Consultants Private Limited	195,000
India Equity Fund	150,000
Atul Goel Family Trust	130,000
Sarthak Agarwal	100,000
Illiquid Securities Private Limited	100,000

Implications of the Forfeiture

Financial Impact: The company will retain the 25% amount paid at Rs. 210 per warrant during allotment. This translates to a significant sum being forfeited by the warrant holders.
Equity Structure: The forfeiture of these warrants means that the potential dilution of equity that would have occurred upon conversion will not take place.
Investor Confidence: This event may raise questions among investors about the reasons behind the non-conversion of warrants, potentially impacting market sentiment towards Prime Industries.

Conclusion

This corporate action by Prime Industries represents a substantial forfeiture of convertible securities. It underscores the importance for investors to closely monitor conversion deadlines and exercise their options in a timely manner. The company's decision to forfeit these warrants could have various implications for its capital structure and future fundraising efforts.

Investors and market watchers will likely be keen to understand the reasons behind the non-conversion of these warrants and any potential impact on the company's financial strategies going forward.