Sayaji Hotels Promoter Group Reduces Stake Through Open Market Sale

Sayaji Hotels (Indore) Limited has received a substantial acquisition disclosure from MP Entertainment and Developers Private Limited, a promoter group entity, regarding the sale of equity shares through open market transactions.

Transaction Details

MP Entertainment and Developers Private Limited disposed of 11,850 equity shares of Sayaji Hotels, representing 0.389% of the company's total share capital. The transaction was executed through open market sales and completed on March 30, 2026.

Transaction Parameter: Details Shares Sold: 11,850 Percentage of Total Capital: 0.389% Transaction Mode: Open Market Transaction Date: March 30, 2026 Seller Status: Part of Promoter Group

Shareholding Changes

The disposal resulted in a reduction of MP Entertainment and Developers Private Limited's stake in Sayaji Hotels. The entity's shareholding position changed significantly following this transaction.

Shareholding Position: Before Transaction After Transaction Number of Shares: 1,89,360 1,77,510 Percentage Holding: 6.22% 5.826% Voting Rights: 6.22% 5.826%

Company Capital Structure

Sayaji Hotels' equity share capital structure remained unchanged following this transaction. The company maintains its existing capital base with no dilution or expansion.

Capital Structure Details: Specifications Total Equity Capital: Rs. 3,04,66,050 Number of Equity Shares: 30,46,605 Face Value per Share: Rs. 10 Listing Exchange: BSE Limited

Regulatory Compliance

The disclosure was made in accordance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction involved only equity shares carrying voting rights, with no encumbrances, warrants, or convertible securities involved in the disposal.

The seller confirmed that no shares were encumbered and no voting rights were acquired or disposed of through instruments other than equity shares. The transaction represents a straightforward equity disposal by the promoter group entity through regular market mechanisms. The company filed the regulatory disclosure on March 31, 2026, through Company Secretary and Compliance Officer Aaditya Kasera.

Sayaji Hotels (Indore) Limited has informed the stock exchange about its promoter Mrs. Anisha Raoof Dhanani'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

Mrs. Anisha Raoof Dhanani, who is part of the promoter group, will divest a portion of her 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: Mrs. Anisha Raoof Dhanani (Promoter) Shares to be Sold: 5,000 equity shares Percentage of Total Capital: 0.16% 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 has obtained necessary undertakings from all persons forming part of the promoters and promoter group, declaring that they shall not purchase any equity shares in the open market during the period in which the proposed sale is being carried out. 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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