<h1>United Heat Transfer Limited invests in Saraswat Co-operative Bank strengthening banking relationship</h1>
United Heat Transfer Limited (UHTL) has invested in Saraswat Co-operative Bank Limited, significantly increasing its equity shareholding in the multi state cooperative bank. The investment, which was approved by the company's Board of Directors and completed recently, is primarily aimed at bolstering UHTL’s ongoing relationship with the institution and fulfilling specific banking requirements.
The company made a payment for the subscription of 5,00,000 Equity Shares in Saraswat Co-operative Bank Limited. The shares were acquired at a face value of Rs 10/- each, totaling an investment of Rs 50,00,000/- (Rupees Fifty Lakhs only).
This capital subscription is undertaken by UHTL as an existing borrower member of Saraswat Bank. As per the requirements related to borrowing members in the cooperative banking sector, this investment aligns with the additional loan amount that Saraswat Bank will be granting to United Heat Transfer Limited for the company's business operations and expansion needs. The transaction is viewed within the context of the lender borrower relationship between the two entities.
The acquisition does not constitute an acquisition or purchase of ownership stake or strategic investment in Saraswat Bank. Given that Saraswat Bank operates under the principle of "one member, one vote," the subscription of additional shares does not confer any proportionate increase in voting rights, management control, or ownership interest over the bank. The payment was made as part of the ordinary course of business dealings between UHTL and Saraswat Bank.
Financial Profile of Saraswat Co-operative Bank Limited
Saraswat Co-operative Bank is a Scheduled Bank that provides a comprehensive suite of banking and financial services, including retail banking, wholesale banking, and treasury operations. The bank was incorporated in 1918. UHTL's investment has led to the following changes in shareholding:| Metric | Details |
|---|---|
| Pre-Acquisition Shares Held by UHTL | 2,500 Shares |
| Post-Acquisition Shares Held by UHTL | 5,02,500 shares |
| Entity Industry | Banking and Financial Services |
The financial health of Saraswat Bank as reported in the details are provided below:
| Metric (as of March 31, 2025) | Value |
|---|---|
| Total Authorized Share Capital | 100,00,00,000 Shares of Rs. 10/- each |
| Total Subscribed Capital | 32,01,75,196 Shares of Rs. 10/- each |
| Preference Share Capital | 61,59,400 Preference Shares of Rs. 10/- each |
| Total Income | Rs. 5064.53 Crores |
| Total Networth | Rs. 5484.91 Crores |
Historical Performance
The bank's financial performance for the last three years is as follows:| Financial Year End Date | Total Income (in Crores) |
|---|---|
| March 31, 2025 | Rs. 5064.53 |
| March 31, 2024 | Rs. 4443.17 |
| March 31, 2023 | Rs. 3967.44 |
UHTL Stock Price Movement
United Heat Transfer Limited shares shed value on Thursday, slipping 1.98% to settle at ₹120.80 after trading below its previous close of ₹123.25. The equity traded within the established price band of 118.40 and 123.20 during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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