Courts as Stewards: Leading the Charge in Environmental Just...
28 Mar 2026
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.
Century 21 Officespace Private Limited has announced the release of pledge on 1,78,000 shares of Sayaji Hotels (Indore) Limited, marking a significant development in the promoter's shareholding structure. The pledge release was executed on March 23, 2026, following the repayment of loan obligations to A R Hospitality Limited.
Pledge Release Details
The regulatory disclosure filed under SEBI Takeover Regulations reveals comprehensive details of the encumbrance release:
Parameter: Details Shares Released: 1,78,000 shares Percentage of Total Share Capital: 5.842% Release Date: March 23, 2026 Beneficiary Entity: A R Hospitality Limited Reason for Release: Repayment of Loan Share Value at Release: Rs. 20,45,22,000 Price per Share: Rs. 1,149
Promoter Shareholding Structure
Century 21 Officespace Private Limited maintains a substantial stake in Sayaji Hotels (Indore) Limited with significant promoter holdings:
Shareholding Details: 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. The encumbrance details show:
Encumbrance Details: Amount/Ratio Loan Amount: Rs. 1,00,00,000 Security Cover Ratio: 20.45:1 Purpose: Short-term financial requirements Encumbrance Type: Pledge arrangement Entity Nature: Hospitality Business
The regulatory filing confirms that the encumbered shares represented less than 50% of promoter shareholding and less than 20% of total share capital, ensuring compliance with regulatory thresholds.
Regulatory Compliance
Century 21 Officespace Private Limited, incorporated under CIN U47990MP2021PTC057258, filed the disclosure on March 25, 2026, in accordance with Regulation 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company's registered address is located at 11th floor, C21 Business Park, C21 Square, Opposite Radisson Blue Hotel, Mr-10, Indore-452010.
Sayaji Hotels (Indore) Limited shares are listed on the Bombay Stock Exchange, and the pledge release strengthens the promoter's unencumbered shareholding position in the hospitality company.
We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.
Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.
As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.
