Systematix Corporate Services Limited, acting as the Manager for the Open Offer by Century 21 Officespace Private Limited (the "Acquirer"), has filed a Public Announcement on March 28, 2025 regarding the acquisition of up to 7,92,118 equity shares of Sayaji Hotels (Indore) Limited, representing 26% of its total share capital. This offer is in line with the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST), and is being made at a price of Rs. 1,250 per equity share, totaling an amount of Rs. 99,01,47,500 (Rupees ninety-nine crore one lakh forty-seven thousand five hundred only).

Offer Details

The open offer is being made by Century 21 Officespace Private Limited (the Acquirer) and its Persons Acting in Concert (PACs), namely Century 21 Town Planners Private Limited (PAC 1), M.P. Entertainment And Developers Private Limited (PAC 2), and Print Solutions Private Limited (PAC 3). Together, these entities form a group that is seeking to acquire a significant shareholding in Sayaji Hotels (Indore) Limited, a prominent hospitality company.

This open offer involves the acquisition of 792,118 fully paid-up equity shares, each with a nominal value of Rs. 10. The offer price is Rs. 1,250 per share, which is significantly higher than the market price, reflecting the acquirer’s commitment to obtaining shareholder approval. The total value of the offer is approximately Rs. 99 crore.

Regulatory Compliance

The open offer is made in compliance with Regulation 3(1) and Regulation 4 of the SEBI (SAST) Regulations, 2011. These regulations govern substantial acquisitions of shares and the takeovers of listed companies in India, ensuring that such transactions are conducted fairly and transparently. This open offer, which is being executed as part of a market purchase, ensures that the acquirer follows the laid-down processes for shareholder protection and compliance.

Public Announcement

In line with SEBI (SAST) Regulations, the public announcement dated March 28, 2025, provides all essential details related to the open offer, including the terms and conditions, timelines, and the process for shareholders to tender their shares. Systematix Corporate Services Limited, which has been appointed as the Manager to the Offer, is responsible for facilitating the open offer and ensuring that the entire process complies with the required legal and regulatory framework.

Shareholder Impact

The shareholders of Sayaji Hotels (Indore) Limited are now presented with an opportunity to exit by tendering their shares under the open offer, ensuring that the acquisition is executed efficiently. The offer price of Rs. 1,250 per share is an attractive proposition, especially given the premium over the market price, and provides an opportunity for shareholders to monetize their investment in the company.

Next Steps

1. Submission of Public Announcement: The Public Announcement has been submitted to BSE and NSE, which will disseminate the information to shareholders.

2. Acceptance Period: Shareholders of Sayaji Hotels are advised to follow the prescribed process to tender their shares during the offer period.

3. Offer Closure and Final Settlement: Once the offer period concludes, the acquirer will proceed with the acquisition of the shares and settle the transactions.

Conclusion

The open offer by Century 21 Officespace Private Limited reflects the acquirer’s strategic interest in gaining a significant stake in Sayaji Hotels (Indore) Limited. The offer is made under the SEBI (SAST) Regulations, 2011 to ensure transparency and protect shareholder interests. The public announcement has been issued, and shareholders are encouraged to evaluate the offer and act accordingly.

The Manager to the Offer, Systematix Corporate Services Limited, is handling the process in full compliance with SEBI regulations, ensuring that the transaction is completed in a manner that is fair and beneficial to all stakeholders involved.

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