The Board of Directors of Sayaji Hotels Limited (BSE:523710) announced the spin-off of Sayaji Hotels (Pune) Limited on September 19, 2018. Pursuant to the transaction, Sayaji Hotels (Pune) Limited, which will include the entire Baroda and Pune businesses of Sayaji Hotels 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 Management Limited. Sayaji Hotels (Pune) Limited would make an application to Bombay Stock Exchange for listing of its shares. Shares issued by Sayaji Hotels (Pune) Limited pursuant to transaction shall also be listed for trading. 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 (Pune) Limited. National Company Law Tribunal has sanctioned the transaction on July 11, 2023.

The Board of Directors of Sayaji Hotels Limited (BSE:523710) completed the spin-off of Sayaji Hotels (Pune) Limited on February 26, 2024.