Dear Sir/Ma''am, Please find attached herewith the intimation letter about approval by the board of directors of the company for participation of the company as selling shareholders ....
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Awaiting price reaction for this filing.
SP Capital Financing's board, at a meeting on September 29, 2025, approved the company's participation as a selling shareholder in the upcoming IPO of Pride Hotels Limited. The company currently holds 98,03,700 equity shares (face value ₹5 each) in Pride Hotels, which is about 5.28% of Pride Hotels' paid-up share capital. It plans to sell up to 32,67,900 of these shares (roughly one-third of its holding) through the Offer for Sale (OFS) component of the IPO. The sale price will be decided by Pride Hotels along with the Book Running Lead Managers under SEBI ICDR rules. After the OFS, SP Capital will still retain about 65,35,800 shares in Pride Hotels.
This is a partial cash-out for SP Capital Financing at the IPO price, giving shareholders some liquidity from an otherwise unlisted investment. The move is broadly positive as it locks in value at a public-market price, though the final impact on the stock will depend on how Pride Hotels' IPO is priced and subscribed.