Receipt of Initial Public Announcement dated May 01, 2026 under SEBI (Delisting of Equity Shares) Regulation, 2021 in relation to the proposal to voluntarily delist the fully paid equity ....
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Ras Resorts & Apart Hotels Ltd's promoters have initiated a voluntary delisting process from BSE. The promoter group (Sobhagya Capital Options acting as manager) intends to acquire all 9,21,582 equity shares held by public shareholders, representing 23.22% of the company's paid-up capital. The offer is subject to public shareholder approval via a special resolution through postal ballot, requiring votes in favour to be at least 2x those against. Additionally, 90% or more of public shareholders must give written consent for the delisting to proceed. The exit price will be determined through a reverse book building process or fixed price mechanism as per SEBI regulations. The company cited high compliance costs relative to its small scale, negligible trading volumes, and no dividends declared for several years as rationale for the delisting.
If the delisting succeeds, public shareholders will receive an exit offer price (floor price TBD via reverse book building) and lose liquidity on BSE. The stock will no longer be tradeable publicly. Shareholders not consenting may remain holding unlisted shares with limited exit options.