United Heat Transfer has executed a deed of hypothecation with Saraswat Co-operative Bank Limited to secure a working capital term loan facility of ₹2.47 Crore. The loan agreement, dated June 24, 2026, carries an interest rate of 9.00% per annum and is repayable over 60 months, including a 12-month moratorium period. The facility is secured against the company's current assets, stock, book debts, and plant and machinery located at its manufacturing facilities in Nashik, Maharashtra.

The Board of Directors of United Heat Transfer approved the investment in 5,00,000 equity shares of Saraswat Co-operative Bank on June 23, 2026, to comply with the bank's share-linkage requirements. This subscription, amounting to ₹50,00,000, is mandated by the RBI Master Circular on Prudential Norms on Capital Adequacy for Primary (Urban) Co-operative Banks dated April 1, 2025. The shareholding is limited to 2.5% of the secured borrowings and does not alter the management or control of the bank.

Saraswat Bank operates under the Multi-State Co-operative Societies Act, 2002, adhering to the principle of "one member, one vote". Consequently, the additional share subscription does not provide United Heat Transfer with any proportionate increase in voting rights or control. The transaction is purely to satisfy the regulatory obligations applicable to borrower members.

Loan and Investment Details

Saraswat Bank reported a total income of ₹5064.53 crore and a net worth of ₹5484.91 crore as on March 31, 2025. The bank, incorporated in 1918, offers a suite of banking and financial services including retail, wholesale, and treasury operations.

United Heat Transfer has filed its annual disclosure of shareholding for the financial year ended March 31, 2026, with the National Stock Exchange of India. The filing confirms that the promoters and promoter group collectively hold 12,570,000 shares, representing the company's ownership structure for the period. The disclosure, submitted pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, provides a detailed breakdown of the holdings held directly and indirectly by the promoter group.

The submission was made on behalf of the Board of Directors by Yogesh Vishwanath Patil, Chairman and Managing Director of united heat transfer . The document confirms that the promoters and promoter group did not create any encumbrances on the shares held by them during the financial year ending March 31, 2026. This compliance ensures transparency regarding the pledged status of the promoter's equity in the company.

Shareholding Breakdown

The disclosure details the specific shareholding of each individual within the promoter and promoter group categories. The data indicates that the majority of the holdings are concentrated among the key promoters, with significant allocations also made to members of the promoter group.

The total promoter shareholding amounts to 11,355,700 shares, while the promoter group holds 1,516,300 shares. The filing was addressed to the Company Secretary and Compliance Officer, the Audit Committee, and the National Stock Exchange of India to ensure regulatory compliance.