Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 - Draft Letter of Offer

Listed Co AcquisitionOpen Offer TriggeredStrategic Transactions View source PDF Explain this filing

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Nifty Microcap 250market · in no size index; the smallest one is used+0.7%-0.7% vs market

Hotels & Resorts peers, median of 49sector+0.1%-0.1% vs sector

On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.1 pts less than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Hotels & Resorts peers, median of 49Pending

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AI summary

Sayaji Hotels (Indore) Ltd has submitted the Draft Letter of Offer (DLOF) for a mandatory open offer triggered under SEBI Takeover Regulations. Century 21 Officespace Private Limited (Acquirer) along with three persons acting in concert — Century 21 Town Planners, M.P. Entertainment & Developers, and Print Solutions — are offering to buy up to 7,92,118 equity shares (26% of voting share capital) at Rs. 1,250 per share in cash, amounting to roughly Rs. 99 crore in total. The trigger was a March 28, 2025 open market purchase of 82,755 shares (2.72%) by PAC 3 for about Rs. 8.71 crore, which took the combined acquirer-PAC holding to 26.87% and resulted in a change of control. The offer is managed by Systematix Corporate Services and the tendering period will run from May 28, 2025 to June 10, 2025, with the acquirer set to become the new promoter of the company.

Likely market impact

Public shareholders of Sayaji Hotels (Indore) can tender their shares at Rs. 1,250 each during the May 28 – June 10, 2025 window. The offer signals an imminent change in control and promoter of the listed company, which may affect trading sentiment and the stock price until the offer process concludes.