Univastu India Limited has scheduled an Extra-Ordinary General Meeting (EGM) on July 18, 2026, via video conferencing, to seek shareholder approval for the preferential issue of up to 18,39,339 fully convertible warrants at ₹87 each. The issuance, aggregating to approximately ₹16,00,22,493, aims to raise capital for working capital needs from promoters and non-promoter investors, with the relevant date for determining the floor price fixed as June 18, 2026.

The board approved the proposal during its meeting held on June 19, 2026. The warrants, carrying a right to subscribe to one equity share of ₹10 face value each, will be allotted to five investors. The allottees include Dr. Pradeep Khandagale and Mrs. Rajashri Khandagale from the promoters group, and Mr. Narender Bhagatkar, Major General (Dr.) Vijay Pawar, and Mr. Dhananjay Barve from the non-promoter public category. The issue price includes a premium of ₹77 per warrant over the face value.

Payment terms stipulate that 25% of the warrant price is payable at allotment, with the remaining 75% due upon the exercise of the option to subscribe to equity shares. The warrants have a tenor of 18 months from the date of allotment and are convertible in one or more tranches. The company has engaged CS Satish Kolhe, Practicing Company Secretary, to certify compliance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Post-allotment shareholding figures indicate a shift in ownership percentages. The promoters' group holding is expected to adjust to 65.39% from the current 67.46%, while the non-promoter public category investors will see their stake rise to 0.31% from 0.23%, assuming full conversion of the warrants. The company has stated there is no change in control consequent to the preferential offer.

To facilitate the approval process, the e-voting period is set from July 15, 2026, at 9:00 a.m. to July 17, 2026, until 5:00 p.m., with the cut-off date for e-voting fixed as July 10, 2026. The facility for voting through ballot paper will also be available at the EGM. The Register of Members and Share Transfer Books of the Company will remain closed from July 12, 2026, to July 18, 2026, for the purpose of the EGM.

Key Shareholding Changes

*Post-issue percentage assumes full conversion of warrants.

Univastu India Limited, through a joint venture with Bootes Infrastructure Limited, has secured a Letter of Award from the Aligarh Development Authority to develop prime land in Aligarh, Uttar Pradesh. The project, valued with a minimum guaranteed revenue of ₹90 crore, will be executed under a Public Private Partnership (PPP) model on a revenue-sharing basis. This development marks a significant expansion for Univastu India Limited in the infrastructure sector, leveraging a land monetization framework to generate value over a 96-month concession period.

The joint venture entity, in which Univastu India Limited holds a 49% stake, will implement the project titled 'Selection of Private Partner for Development of Prime ADA's Land Near Soot Mill Circle, Baroula Jafrabad, Aligarh.' The total land area earmarked for development measures approximately 25,091 sq. mtrs. The project structure requires the formation of a Special Purpose Vehicle (SPV) to manage the obligations and revenue sharing mechanisms outlined in the Joint Development Agreement (JDA).

Financial commitments for the project include a Minimum Guaranteed Revenue (MGR) of ₹90 crore payable to the Aligarh Development Authority. The SPV is obligated to pay either the MGR or the revenue share calculated based on the quoted percentage, whichever is higher, as per the payment schedule. Additionally, prior to the execution of the JDA, the SPV must furnish a Performance Bank Guarantee of ₹5 crore to the authority to secure the due performance of contractual obligations.

The project will be executed over a concession period of 96 months, encompassing construction, sales, and operation & maintenance phases. The revenue share payable to the Aligarh Development Authority will be determined in accordance with the bid submitted by the developer and the specific terms of the JDA. The order was awarded by a domestic entity, and the company confirmed that the transaction does not involve any interests from the promoter group or related party transactions.

Key Project Details