Sayaji Hotels (Indore) promoter Kayum Razak Dhanani sells 43,031 shares, 1.41% stake

What Sayaji Hotels (Indore) Ltd announced

On 1 July 2026 the company filed a disclosure with the Bombay Stock Exchange under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing records that its promoter, Mr Kayum Razak Dhanani, disposed of his entire voting‑shareholding in the company. The transaction involved 43,031 equity shares, which amounted to 1.41 % of the total voting capital, and was carried out on the open market on 30 June 2026. After the sale the promoter no longer holds any voting shares in Sayaji Hotels (Indore) Ltd.

The promoter’s entire voting shareholding has been disposed of.

Details of the share disposal

• Seller / Person Acting in Concert (PAC): Mr Kayum Razak Dhanani, identified as a promoter of the company and resident of Bengaluru.
• Number of shares sold: 43,031 voting shares.
• Percentage of total share capital: 1.41 % (both on a basic and diluted basis, as the diluted capital is identical to the basic capital).
• Mode of acquisition/sale: Open market transaction.
• Date of transaction: 30 June 2026 (the date of acquisition/sale as per the filing).
• Pre‑sale holding: 43,031 shares (1.41 % of total voting capital).
• Post‑sale holding: 0 shares (0 % of total voting capital).
• Equity share capital of the company: Remains Rs 3,04,66,050, comprising 30,46,605 equity shares of face value Rs 10 each. The capital structure is unchanged because the sale was a transfer of existing shares, not a new issue.
• Encumbrances / convertible securities: The filing indicates no pledged shares, liens, warrants, convertible securities or any other instrument that could affect the share count.

Regulatory framework – Regulation 29(2)

Regulation 29(2) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 obliges any person who acquires or disposes of shares that would change their holding percentage in a listed entity to disclose the transaction to the stock exchange within a prescribed time‑frame. The purpose is to provide market participants with timely information on changes in shareholding, especially when promoters or persons acting in concert are involved. The disclosure must include the number of shares, percentage of total and diluted share capital, mode of acquisition, and the date of the transaction. Sayaji Hotels (Indore) Ltd complied with these requirements by filing the PDF document on 1 July 2026, thereby making the promoter’s exit transparent to investors.

Key facts at a glance

Why this matters for investors

The disclosure signals a complete exit of a promoter from the shareholding structure. While the percentage involved (1.41 %) is modest, the fact that the promoter no longer holds any voting shares may affect perceptions of control and future strategic direction. Because the transaction was an open‑market sale, there is no dilution of existing shareholders’ equity; the total share capital remains unchanged. No new securities were issued, and there are no encumbrances or pending convertible instruments that could alter the capital structure. Investors can therefore treat the filing as a pure transfer of ownership rather than a capital‑raising event.

Conclusion

Sayaji Hotels (Indore) Ltd has formally disclosed that its promoter, Mr Kayum Razak Dhanani, sold his entire 43,031‑share, 1.41 % stake on 30 June 2026 via the open market. The sale leaves the promoter with zero voting shares, while the company’s equity capital and share count remain unchanged. The filing satisfies SEBI’s Regulation 29(2) requirements, providing the market with a clear view of the promoter’s exit. No further approvals or actions are indicated in the filing.

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FAQs

1. Who is Kayum Razak Dhanani? He is identified in the filing as a promoter of Sayaji Hotels (Indore) Ltd and resides in Bengaluru.

2. How many shares did the promoter sell and what percentage of the company did that represent? He sold 43,031 voting shares, which equated to 1.41 % of the total (and diluted) share/voting capital of the company.

3. When and how were the shares sold? The shares were sold on the open market on 30 June 2026.

4. What is the company’s total equity share capital after the sale? The equity share capital remains Rs 3,04,66,050, representing 30,46,605 equity shares of Rs 10 each.

5. Does the filing indicate any remaining holding by the promoter after the sale? No. The post‑sale holding is recorded as zero voting shares.

6. Are there any pledged shares, warrants or convertible securities involved in this transaction? The filing states that there are no encumbrances, pledged shares, warrants, or convertible securities linked to the promoter’s holding.