Systematix Corporate Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement for the attention of the Equity Shareholders of Sayaji Hotels (Indore) ....
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Awaiting price reaction for this filing.
Century 21 Officespace Private Limited (the Acquirer), along with three Persons Acting in Concert — Century 21 Town Planners, M.P. Entertainment and Developers, and Print Solutions — has filed a Detailed Public Statement for an open offer to buy up to 7,92,118 equity shares of Sayaji Hotels (Indore), representing 26% of its equity share capital. The offer price is fixed at Rs. 1,250 per equity share, making the total offer size approximately Rs. 99 crore. The offer is being made under Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following the initial Public Announcement dated March 28, 2025. The DPS was published in English, Hindi, Marathi, and Tamil newspapers on April 7, 2025, and Systematix Corporate Services is acting as the Manager to the Offer.
Shareholders of Sayaji Hotels now have a formal opportunity to tender their shares at Rs. 1,250 apiece; the market price may gravitate toward this offer price as the tendering window approaches, and the offer signals a potential change in control of the listed company.