Century 21 Officespace Releases Pledge on 1,78,000 Sayaji Hotels Shares Worth Rs. 20.45 Crore

Sayaji Hotels (Indore) Limited has received official regulatory disclosure from Century 21 Officespace Private Limited regarding the release of pledge on 1,78,000 equity shares. The pledge release was executed on March 23, 2026, following the repayment of loan obligations to A R Hospitality Limited, as disclosed through official filing under SEBI Takeover Regulations.

Official Regulatory Filing

The company filed the disclosure on March 26, 2026, through Company Secretary & Compliance Officer Aaditya Kasera to BSE Limited. The filing includes comprehensive documentation pursuant to Regulation 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011:

Filing Details: Information Filing Date: March 26, 2026 Reporting Date: March 25, 2026 Release Date: March 23, 2026 Stock Exchange: Bombay Stock Exchange Regulation: SEBI Takeover Regulations 31(2)

Pledge Release Specifications

The regulatory disclosure reveals detailed information about the encumbrance release executed by Century 21 Officespace Private Limited:

Parameter: Details Shares Released: 1,78,000 equity shares Percentage of Total Share Capital: 5.842% Share Value at Release: Rs. 20,45,22,000 Price per Share: Rs. 1,149.00 Beneficiary Entity: A R Hospitality Limited Encumbrance Type: Pledge arrangement Release Reason: Repayment of Loan

Promoter Shareholding Analysis

Century 21 Officespace Private Limited maintains substantial promoter holdings in Sayaji Hotels with the following shareholding structure:

Shareholding Metrics: Numbers Percentage Total Promoter Holding: 9,24,433 shares 30.34% Previously Encumbered Shares: 1,78,000 shares 5.842% Encumbered as % of Promoter Holding: - 19.25% Post-Release Encumbered Shares: Nil Nil

Original Encumbrance Background

The pledge was originally created on August 1, 2024, as part of a financing arrangement with specific security parameters:

Encumbrance Details: Amount/Ratio Original Loan Amount: Rs. 1,00,00,000 Security Cover Ratio: 20.45:1 Purpose: Short-term financial requirements Entity Nature: Hospitality Business Compliance Status: Below regulatory thresholds

Regulatory Compliance Framework

Century 21 Officespace Private Limited, incorporated under CIN U47990MP2021PTC057258, maintains its registered address at 11th floor, C21 Business Park, C21 Square, Opposite Radisson Blue Hotel, Mr-10, Indore-452010. The regulatory filing confirms that the encumbered shares represented less than 50% of promoter shareholding and less than 20% of total share capital, ensuring full compliance with SEBI regulatory thresholds.

The pledge release strengthens the promoter's unencumbered shareholding position in the hospitality company, with all documentation properly filed and authenticated through digital signatures as per regulatory requirements.

Sayaji Hotels (Indore) Limited has informed the stock exchange about its promoter group's intention to sell equity shares to comply with minimum public shareholding (MPS) requirements. The announcement comes following an open offer that resulted in the company's public shareholding falling below the prescribed regulatory limits.

Shareholding Sale Details

MP Entertainment and Developers Private Limited, which forms part of the promoter group, will divest a portion of its holdings in the open market. The sale is being undertaken to restore compliance with minimum public shareholding norms as mandated under applicable securities regulations.

Parameter: Details Selling Entity: MP Entertainment and Developers Private Limited (Promoter Group) Shares to be Sold: 22,000 equity shares Percentage of Total Capital: 0.72% Completion Timeline: By March 30, 2026 Purpose: Achieve Minimum Public Shareholding compliance

Regulatory Background

The need for this divestment arose following an open offer initiated by Century 21 Officespace Private Limited along with its persons acting in concert (PACs). This acquisition increased the promoter and promoter group shareholding beyond permissible limits under Rule 19A of the Securities Contracts (Regulation) Rules, 1957, consequently reducing public shareholding below the minimum required level.

Compliance Measures

In accordance with SEBI Circular No. SEBI/HO/CFD/PoD2/P/CIR/2023/18 dated February 03, 2023, the company has implemented specific compliance measures:

Obtained undertakings from all other promoter and promoter group members

Ensured no share purchases by promoters during the sale period

Filed prior intimation as required under Sr. No. 7(ii) of the SEBI circular

Appointed Company Secretary Aaditya Kasera as the compliance officer for the process

The company noted that it had attempted to file this intimation earlier but faced technical difficulties, leading to the current submission dated March 28, 2026. The sale represents a strategic move to maintain regulatory compliance while ensuring the company continues to meet all listing obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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