The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on December 29, 2025 for Raoof Razak Dhanani
SAYAJIHOTL · price
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Promoter Raoof Razak Dhanani has released a pledge on 9,75,000 equity shares (about 5.56% of total share capital) of Sayaji Hotels that were earlier encumbered with State Bank of India. The release happened on 18 December 2025 due to repayment of a loan. After this release, the promoter's total holding remains 15,27,630 shares (8.72%), but his encumbered shares have come down from 12,75,000 (7.27%) to just 3,00,000 shares (1.71% of capital, or 19.07% of his personal holding). The remaining 3,00,000 shares continue to be pledged with Swan Finance Limited as a guarantee, with no actual money borrowed.
This is a positive signal — the promoter has cleared a significant loan-backed pledge, reducing encumbered shares substantially. This lowers financial risk on the promoter's holdings and suggests improved personal liquidity, which is generally viewed favourably by retail investors.