Shareholder approval thro Postal Ballot for sale of company''s properties
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On the reaction day the stock moved 2.7 pts more than Nifty Microcap 250 and 2.5 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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Velan Hotels Ltd has informed BSE that its Board of Directors has approved conducting a Postal Ballot to seek shareholder approval for the sale of the company's hotel properties. This follows an Asset Sale Agreement already entered into with a proposed purchaser, disclosed on January 13, 2026. The Postal Ballot will be conducted under Section 110 of the Companies Act, 2013, and SEBI LODR Regulations. The Board approved the draft notice for the Postal Ballot at its meeting held on January 14, 2026. Velan Hotels is a Tirupur-based hospitality company, and selling its hotel properties represents a major divestment of core operating assets.
Shareholders will now get to vote on the proposed sale of the company's hotel properties — the outcome could materially change the company's future business direction and valuation. The stock may see volatility as details of the sale price and purchaser's identity are awaited.