Newspaper Publication of Recommendation of Committee of Independent Directors of SayajI Hotels (Indore) Limited on Open Offer.
Price
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Awaiting price reaction for this filing.
Sayaji Hotels (Indore) Limited has published the recommendations of its Committee of Independent Directors (IDC) on an Open Offer made by Century 21 Officespace Private Limited (Acquirer) along with three persons acting in concert. The Open Offer is for the acquisition of up to 7,92,118 fully paid-up equity shares (26% of total equity share capital) from public shareholders at Rs. 1,250 per share. The IDC reviewed the Public Announcement, Detailed Public Statement, Draft Letter of Offer, Corrigendum, and Letter of Offer, and concluded that the Offer Price is fair and reasonable in accordance with SEBI Takeover Regulations, being the highest among the prescribed pricing parameters (52-week VWAP was Rs. 1,193.19, 26-week highest price was Rs. 1,052.80, and 60-day VWAP was Rs. 706.41). The recommendations were published on July 21, 2025 in Financial Express, Jansatta, Mumbai Lakshdeep, Madasmani, and Indore Samachar. The company received no shareholder complaints regarding the offer process or valuation.
This is a procedural filing — the IDC has endorsed the Open Offer price of Rs. 1,250 as fair, giving public shareholders a clear reference point. Shareholders should independently evaluate whether to tender shares, as the offer price represents a premium of about 5% over the 52-week VWAP and a substantial premium over the 60-day VWAP.