The Board of Directors of Sayaji Hotels Limited (BSE:523710) announced the spin-off of Sayaji Hotels (Indore) Limited on September 19, 2018. Pursuant to the transaction, Sayaji Hotels (Indore) Limited, will issue shares to the shareholders of Sayaji Hotels Limited in the ratio of 4 fully paid up equity shares for every 23 fully paid up equity shares held in Sayaji Hotels Limited. In a related transaction, Sayaji Hotels Limited agreed to spin-off Sayaji Hotels (Pune) Limited. Sayaji Hotels Management Limited would make an application to Bombay Stock Exchange for listing of its shares. Shares issued by Sayaji Hotels (Indore) Limited pursuant to transaction shall also be listed for trading. The record date is August 7, 2023. As of August 31, 2023, the record date has been revised to September 5, 2023. The transaction has been approved by the Board of Directors of Sayaji Hotels Limited and is subject to requisite statutory and regulatory approvals and sanction by the respective shareholders and creditors of each of Sayaji Hotels Limited and Sayaji Hotels (Indore) Limited. National Company Law Tribunal has sanctioned the transaction on July 11, 2023. Link Intime India Pvt. Ltd. acted as a share transfer agent.

Sayaji Hotels Limited completed the Spin-Off of Sayaji Hotels (Indore) Limited (BSE:544080) on September 6, 2023.