Sayaji Hotels Announces Promoter Group Share Sale to Meet Minimum Public Shareholding Requirements
Sayaji Hotels (Indore) Ltd. announced on March 28, 2026, that MP Entertainment and Developers Private Limited, a member of the Promoter Group, intends to sell equity shares to comply with Minimum Public Shareholding (MPS) requirements. This action follows an increase in Promoter/Promoter Group shareholding due to an Open Offer by Century 21 Officespace Private Limited and its Persons Acting in Concert (PACs) as per SEBI regulations.The sale aims to restore the Company's public shareholding to the prescribed level within a stipulated timeline.
Here's a summary of the proposed share sale:
| Detail | Information |
|---|---|
| Intention and Purpose of Sale | MP Entertainment and Developers Private Limited intends to sell shares to comply with MPS requirements. |
| Promoter/Promoter Group Involved | M/s MP Entertainment and Developers Private Limited, Part of Promoter Group. |
| Number of Shares to be Sold & Percentage | 22,000 equity shares, representing 0.72% of the total paid-up share capital. |
| Completion Timeframe | By Monday, March 30, 2026. |
The Company has obtained undertakings from other Promoter Group members confirming they will not purchase shares during the sale period, as per SEBI guidelines.
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