Letter of intension for voluntary delisting of equity shares received from promoters of Ras Resorts And Apart Hotels Limited
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Ras Resorts & Apart Hotels Ltd has received a Letter of Intention from its promoters, Mr. Vishamber Shewakramani and Mrs. Nalini Shewakramani, dated April 27, 2026, expressing their intent to acquire all equity shares held by public shareholders and voluntarily delist the company's equity shares from BSE Limited. The company qualifies as a 'Small Company' under Regulation 35 of the SEBI (Delisting of Equity Shares) Regulations, 2021, making it eligible for a simplified delisting process. The promoters cite low trading volumes, high listing compliance costs, limited dividends, and disproportionate management time spent on regulatory requirements as key reasons for the proposed delisting. The delisting offer price will be determined in accordance with Regulation 35, including certification by a Peer Reviewed Company Secretary. The proposal is subject to public shareholder approval and other regulatory clearances.
Public shareholders will be given an opportunity to exit at a promoter-determined price, though low trading volumes and the small company classification may limit the exit premium. The stock is likely to become highly illiquid and volatile as the delisting process progresses.