Further to letter dated 27.7.2025 and 31.7.2025 and pursuant to Reg. 30 read with Para A, Part A of Schedule-III of SEBI (LODR) Reg. 2015, copy of the notice of Postal Ballot dated 27.07.2025 ....
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Awaiting price reaction for this filing.
U. P. Hotels Limited (Clarks Group) has issued a Postal Ballot notice seeking shareholder approval to voluntarily delist its equity shares from BSE Limited. The delisting is being driven by promoters Mr. Apurv Kumar and Mr. Anoop Kumar, whose promoter group already holds 88.39% of shares (47,72,960 shares), with the public holding only 11.61% (6,27,040 shares). The company has been non-compliant with the Minimum Public Shareholding (MPS) norm since December 2001, and SEBI's order dated December 3, 2024 granted conditional relaxation tied to this delisting process. The floor price has been fixed at Rs. 900 per share, based on the highest among three valuations (Rs. 805, Rs. 809, and Rs. 870 per share) plus the acquirers' indicative price. E-voting will run from August 6 to September 4, 2025, and the resolution requires public shareholder votes in favor to be at least twice those against.
Public shareholders are being offered an exit at a floor price of Rs. 900 per share (final price to be determined via reverse book building). If approved, the stock will be delisted from BSE, ending its trading on the exchange; shareholders who do not tender will hold illiquid shares in an unlisted company.