United Heat Transfer Board Approves ₹31.31 Crore Preferential Equity Issue

Board approved a preferential issue of 29.68 lakh equity shares to identified non-promoter investors at Rs 105.50 per share, aggregating Rs 31.31 Cr, subject to shareholder and statutory approvals. Authorized share capital and Articles of Association amendments were also approved. EGM scheduled for 19 September 2026. This is the first follow-on equity raise since listing and breaks the company’s prior no-dilution pattern. The fundraise is material as the company enters an expansion and execution phase while reassessing its funding profile; proceeds usage was not specified. The issue will dilute existing shareholders, with final post-allotment ownership dependent on completion. Annexure-A shows total subscription amount of Rs 2.97 Cr versus stated issue proceeds of Rs 31.31 Cr, requiring clarification.