United Van Der Horst to seek Rs 20 crore preferential issue at Rs 32 a share via postal ballot
Company seeks shareholder nod by postal ballot for a Rs 20,00,00,000 preferential issue of up to 62,50,000 equity shares at Rs 32 per share.
Key takeaways
- Up to 62,50,000 equity shares are proposed on a preferential basis at Rs.32/- per share.
- The issue size aggregates to Rs. 20,00,00,000/- as per Item No. 2 of the Postal Ballot Notice.
- Authorised share capital is proposed to rise from Rs.7,00,00,000/- to Rs. 8,00,00,000/-.
- Cut-off date for voting eligibility is Friday, October 30, 2026.
- Remote e-voting runs from November 07, 2026 to December 06, 2026.
Key terms
- Action
- Other
- Terms
- Rs.32/- per equity share
- Remote e-voting window: November 07, 2026 to December 06, 2026
- Jagmeet Singh Sabharwal to receive 15,62,500 shares as promoter allottee
United Van Der Horst Limited has circulated a Postal Ballot Notice dated November 06, 2026 seeking shareholder approval for two key capital-related resolutions, including a preferential issue of equity shares. The notice does not announce any buyback, bonus issue or dividend.
The resolutions are to be approved by members as on the cut-off date of Friday, October 30, 2026, through remote e-voting only.
Key terms (from the Postal Ballot Notice and Explanatory Statement)
- Type of action: Increase in authorised share capital and proposed preferential issue of equity shares (no buyback / bonus / dividend announced)
- Authorised share capital (proposed): Increase from Rs.7,00,00,000/- to Rs. 8,00,00,000/- (Item No. 1, resolution text and Explanatory Statement)
- Face value: Re. 1/- per equity share
- Preferential issue size (maximum): Up to 62,50,000 (Sixty-Two Lakhs Fifty Thousand) equity shares (Item No. 2, resolution text and Explanatory Statement)
- Issue price: Rs.32/- (Rupees Thirty-Two Only) per equity share, including a premium of Rs. 31/- per equity share (Item No. 2 and point 3 of the Explanatory Statement)
- Aggregate amount to be raised: Rs. 20,00,00,000/- (Rupees Twenty Crores Only) (Item No. 2 and points 1, 2, 4 of the Explanatory Statement)
- Identified allottees and quantum (table under Item No. 2):
- Jagmeet Singh Sabharwal (Promoter): 15,62,500 equity shares
- Saloni R Shah (Non-Promoter): 3,12,500 equity shares
- Foresight Holdings Pvt. Ltd. (Non-Promoter): 6,25,000 equity shares
- Jaidev Rajnikant Shroff (Non-Promoter): 37,50,000 equity shares
- Total: 62,50,000 equity shares
- Relevant date for pricing: Friday, November 06, 2026 (fixed as the relevant date under Chapter V of SEBI (ICDR) Regulations)
- Cut-off date for voting eligibility: Friday, October 30, 2026 (Notes and opening paragraphs of the Notice)
- Remote e-voting window: From Saturday, November 07, 2026 at 09:00 a.m. (IST) to Sunday, December 06, 2026 at 05:00 p.m. (IST) (opening section of the Notice and Note 11)
- Deemed date of passing resolutions (if approved): Sunday, December 06, 2026 (opening of page 2)
- Result declaration deadline: On or before Tuesday, December 08, 2026 (opening of page 2 and Note 7)
- Proposed utilisation of proceeds (table under point 1 of Explanatory Statement, Item No. 2):
- Repayment/Prepayment of outstanding borrowings of the Company, including accrued interest thereon: Rs. 15,00,00,000
- General Corporate Purposes: Rs. 5,00,00,000
- Total: Rs. 20,00,00,000
Eligibility and how this affects shareholders
According to the Postal Ballot Notice, all members whose names appear in the register of members or in the register of beneficial owners as on the cut-off date of Friday, October 30, 2026 are entitled to vote on the resolutions through remote e-voting. A person who is not a member as on the cut-off date is asked to treat the notice for information purposes only (Notes 3, 5 and 8).
The company clarifies that the communication of assent or dissent will take place only through the e-voting system, and physical postal ballot forms are not being sent (opening section and Note 3).
Company’s stated rationale
In the Explanatory Statement for Item No. 1, the Board states that the increase in authorised share capital from Rs.7,00,00,000/- to Rs. 8,00,00,000/- is required "to accommodate the proposed issuance of equity shares" under the preferential offer.
For Item No. 2, the Explanatory Statement explains that the company has undertaken capital expenditure for strengthening and expanding its manufacturing infrastructure and operational capabilities, including acquisition and installation of imported forging plant & equipment, funded through various borrowings. The management states that it proposes to utilise the proceeds of the proposed preferential issue towards repayment/prepayment of such borrowings and for general corporate purposes. The company describes this as aimed at reducing outstanding debt obligations, lowering financial leverage and interest burden, improving cash flows, increasing revenue and strengthening its overall financial position.
Timetable and next steps
- Cut-off date for voting eligibility: Friday, October 30, 2026
- Remote e-voting opens: Saturday, November 07, 2026 at 09:00 a.m. (IST)
- Remote e-voting closes: Sunday, December 06, 2026 at 05:00 p.m. (IST)
- Deemed date of passing resolutions (if approved): Sunday, December 06, 2026
- Results to be declared: On or before Tuesday, December 08, 2026, with results to be placed on the company’s website and sent to BSE Limited.
The Postal Ballot Notice emphasises that resolutions passed through this process will be deemed to have been passed as if at a duly convened general meeting (Note 12).
There is no mention in this filing of any buyback, bonus issue, stock split or dividend, nor of any record date or ex-date for such actions.
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