A primary company, in the context of Indian corporate structures and regulatory filings, typically refers to the principal or parent entity in a group—the main listed company around which subsidiaries, associates, and joint ventures are organised. In the context of capital markets, it can also refer to the issuing entity in a primary market transaction—the company that is directly raising fresh capital through an IPO, rights issue, or private placement, as opposed to existing shareholders who may be selling their stakes (secondary sale). Understanding the distinction between a primary and secondary offering is important for evaluating where IPO proceeds are directed.