United Van Der Horst proposes Rs 20 crore preferential issue

On November 6, 2026, United Van Der Horst Ltd. disclosed a proposed Rs 20 crore cash preferential issue of up to 62.5 lakh equity shares at Rs 32 each, including 37.5 lakh shares proposed for non-promoter Jaidev Rajnikant Shroff. The proposed issue would be made on a private-placement basis to four named investors.

What is United Van Der Horst proposing to issue?

United Van Der Horst proposes a private-placement preferential issue of up to 62.5 lakh equity shares, each with a face value of Re 1, for cash. The issue price is Rs 32 per share, comprising Re 1 of face value and a Rs 31 premium, for a disclosed aggregate issue size of Rs 20 crore.

The disclosure identifies the instrument as equity shares rather than convertible securities. It lists four proposed allottees for the entire 62.5 lakh shares and describes the transaction as a preferential issue on a private-placement basis.

At Rs 32 per share, the proposed issue is for cash. The supplied disclosure does not state a use of proceeds, a proposed allotment date, a record date or a shareholder-approval timetable, so the Rs 20 crore is a proposed issue amount rather than a reported cash receipt.

The filing does not mention debt conversion, acquisition consideration or a non-cash contribution from any proposed allottee. It also marks cancellation or termination of the securities issuance proposal as not applicable at the time of the November 6, 2026 disclosure.

Who will receive United Van Der Horst's proposed shares?

United Van Der Horst proposes to allot 37.5 lakh shares to Jaidev Rajnikant Shroff, a non-promoter investor, making him the largest recipient in the Rs 20 crore proposal. At Rs 32 per share, his proposed allocation represents Rs 12 crore, or 60% of the 62.5 lakh-share issue.

Jagmeet Singh Sabharwal, identified as a promoter, is proposed to receive 15,62,500 shares for Rs 5 crore. Saloni R Shah, a non-promoter investor, is proposed to receive 3,12,500 shares for Rs 1 crore, while Foresight Holdings Pvt. Ltd., also classified as a non-promoter investor, is proposed to receive 6,25,000 shares for Rs 2 crore.

The three named non-promoter allottees account for Rs 15 crore, or 75%, of the proposed issue amount. The promoter allottee accounts for the remaining Rs 5 crore, or 25%, based on the disclosed allocations and the uniform Rs 32 issue price.

How would the proposed issue change United Van Der Horst ownership?

United Van Der Horst states that Jaidev Rajnikant Shroff would hold 37.5 lakh shares, or 4.99%, after the proposed allotment, compared with no pre-issue holding. His proposed stake is the largest post-issue shareholding disclosed among the three non-promoter allottees in the transaction.

Jagmeet Singh Sabharwal's holding would rise from 4,72,70,850 shares to 4,88,33,350 shares following the proposed allotment. Although he is proposed to receive 15,62,500 new shares, his percentage holding would decline to 64.94% from 68.56% as the equity base expands through the 62.5 lakh-share issue.

Saloni R Shah's disclosed stake would increase from 0.09% to 0.50%, while Foresight Holdings Pvt. Ltd.'s stake would rise from 0.21% to 1.02%. The filing provides these four proposed post-allotment outcomes but does not provide a complete post-issue shareholding pattern for all shareholders.

The disclosed figures show that Jagmeet Singh Sabharwal's absolute shareholding would increase by 15,62,500 shares while his ownership percentage would fall by 3.62 percentage points. This reflects the proposed expansion in outstanding shares, rather than a disclosed sale of his existing holding.

What do United Van Der Horst's latest financial figures show?

United Van Der Horst reported standalone turnover of Rs 19.16 crore for the half year ended September 30, 2026, with profit after tax of Rs 2.39 crore. For the September 2026 quarter, turnover was Rs 10.01 crore and profit after tax was Rs 1.26 crore, compared with Rs 9.15 crore and Rs 1.12 crore respectively in the June 2026 quarter.

Turnover increased by Rs 86.30 lakh between the June 2026 and September 2026 quarters. Profit before tax increased by Rs 3.74 lakh to Rs 1.57 crore, while profit after tax increased by Rs 13.98 lakh to Rs 1.26 crore; these are unaudited standalone figures reported with the preferential-issue disclosure.

Job work and reconditioning generated Rs 12.09 crore of revenue in the half year ended September 30, 2026, compared with Rs 7.07 crore from manufacturing. Total half-year revenue was Rs 19.16 crore, while the year ended March 31, 2026 recorded turnover of Rs 31.94 crore and profit after tax of Rs 5.22 crore.

The statutory auditors issued an unmodified conclusion on their limited review of the consolidated results for the quarter ended September 30, 2026. United Van Der Horst did not present comparative consolidated figures for the September 2025 quarter and half year because it began consolidating an associate from the third quarter of financial year 2025-26.

Conclusion

United Van Der Horst's proposed Rs 20 crore preferential issue would add 62.5 lakh shares at Rs 32 each and introduce Jaidev Rajnikant Shroff as a disclosed 4.99% post-issue shareholder. The proposed allocation would also increase Jagmeet Singh Sabharwal's holding by 15,62,500 shares, while reducing his stated percentage ownership from 68.56% to 64.94%.

The next development to watch is whether the proposed allotment results in the disclosed post-issue holdings and Rs 20 crore cash issue. The supplied November 6, 2026 disclosure does not set out an allotment date, approval timetable or use for the proceeds.