Outcome of Board Meeting of U P Hotels Limited held on July 27, 2025 with regard to voluntary delisting of equity shares under Reg. 30 of SEBI (LODR) Regulations, 2015 is attached.
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The Board of Directors of UP Hotels Ltd (Clarks Group of Hotels) met on July 27, 2025 and approved a proposal to voluntarily delist the company's equity shares from BSE. Promoters Mr. Apurv Kumar and Mr. Anoop Kumar (along with promoter group holding ~88.39% combined) intend to acquire all shares held by public shareholders (~6.27 lakh shares, 11.61%) and delist the stock. The floor price for the delisting offer has been set at ₹900 per share, being the highest among four valuations: ₹805 (Registered Valuer), ₹809 and ₹870 (two chartered accountant firms), and ₹900 (acquirers' indicative price). The Board reviewed the Due Diligence Report and Share Capital Audit Report, and approved a postal ballot notice to seek shareholder approval.
Public shareholders holding ~11.61% of shares will get an exit opportunity at a floor price of ₹900 per share, a significant premium over typical trading levels for this thinly-traded stock. If the delisting succeeds, the stock will no longer be tradable on BSE, removing liquidity for remaining holders, so shareholders need to assess whether to tender in the offer or exit on the exchange beforehand.