Systematix Corporate Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Recommendations of the Committee of Independent Directors ("IDC") on the Open Offer to the to the ....
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On the reaction day the stock moved 4.0 pts more than Nifty Microcap 250 and 4.0 pts more 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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Century 21 Officespace Private Limited (Acquirer), along with three PACs (Century 21 Town Planners, M.P. Entertainment and Developers, and Print Solutions), has made an Open Offer to buy up to 7,92,118 equity shares (26% of equity capital) of Sayaji Hotels (Indore) at Rs. 1,250 per share under SEBI SAST Regulations. The Committee of Independent Directors (IDC) of Sayaji Hotels met on July 18, 2025 and issued its formal recommendations on this open offer. These IDC recommendations were published on July 21, 2025 across five newspapers including Financial Express, Jansatta, Mumbai Lakshdeep, Madrasmani, and Indore Samachar. Systematix Corporate Services, acting as the Manager to the Offer, has submitted the IDC recommendation copy to BSE.
Existing shareholders now have an IDC-recommended view on whether to tender their shares in the open offer at Rs. 1,250 per share. This represents a potential exit opportunity at a defined price and signals a change of control or significant stake acquisition in the company.