Intimation of Completion Certificate with respect to the Open Offer issued by the Manager to the Open Offer.
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Sayaji Hotels (Indore) Ltd has announced the completion of an Open Offer by Century 21 Officespace Private Limited (Acquirer) along with three Persons Acting in Concert (PACs). The offer was to acquire up to 7,92,118 equity shares (26% of the company's equity share capital) at Rs. 1,250 per share, under SEBI (SAST) Regulations, 2011. The Manager to the Offer, Systematix Corporate Services Limited, issued the completion certificate on September 25, 2025, confirming all formalities have been duly complied with. Following completion, the Acquirer and PACs will be reclassified from 'Public' to 'Promoter and Promoter Group' of the company. The company has informed the depository (CDSL) and the registrar (MUFG Intime India) to carry out the necessary reclassification.
This effectively results in a change of control/promoter status at Sayaji Hotels, with Century 21 group entities and related individuals now becoming the new promoters of the company. Shareholders should note the potential implications for corporate governance and strategic direction going forward.