Sayaji Hotels promoter encumbers more shares, pledge percentage rises

Raoof Razak Dhanani, a promoter of Sayaji Hotels Limited, reported the encumbrance of an additional 300,000 shares, representing 1.71% of the total share capital, on November 26, 2025. This latest pledge, made in favor of Swan Finance Limited, serves as a guarantee for working capital and a term loan. Following this event, Dhanani's total encumbered shares stand at 1,275,000, or 7.27% of the total share capital.

The value of the newly encumbered shares was estimated at Rs. 298.20 per share on the event date, totaling Rs. 9 Crores. This latest transaction increases the percentage of Dhanani's encumbered shares to 83.46% of their total holding of 1,527,630 shares in Sayaji Hotels Limited.

Previously, on March 31, 2017, Dhanani had already encumbered 975,000 shares, representing 5.56% of the total share capital, valued at Rs. 22.5 Crores, with the State Bank of India. The promoter's total shareholding in Sayaji Hotels Limited is 1,527,630 shares, accounting for 8.7204% of the total share capital.