Systematix Corporate Services Limited ("Manager to the Offer") has submitted to BSE a copy of Post-Offer Public Announcement to the Public Shareholders of Sayaji Hotels (Indore) Ltd ("Target ....
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Awaiting price reaction for this filing.
Century 21 Officespace Pvt Ltd along with three PACs (Century 21 Town Planners, M.P. Entertainment & Developers, Print Solutions) completed the open offer to acquire up to 7,92,118 equity shares (26%) of Sayaji Hotels at Rs. 1,250 per share under SEBI (SAST) Regulations. Out of the 7,92,118 shares offered, only 3,78,251 shares were tendered and accepted, with the acquirer paying Rs. 47.28 crore in total consideration. The offer opened on July 25, 2025 and closed on August 7, 2025, with payment made on August 21, 2025. Post-offer, the acquirer and PACs hold 11,96,936 shares (39.29%) of voting share capital, up from 24.16% pre-offer. The filing notes the company no longer meets the 25% Minimum Public Shareholding (MPS) norm and the acquirer, PACs, and existing promoters will jointly restore MPS per SEBI rules.
For shareholders, the open offer closed with lower-than-expected tendering (3.78 lakh shares vs 7.92 lakh offered), reducing the takeover stake from a possible 52.87% to 39.29%. Public shareholding has fallen to 19.35%, triggering an MPS shortfall that the acquirer group must remedy, which could mean further buying or a sell-down by promoters.