Advent Hotels International board approved the resignation of Rahul Pandit as Managing Director and CEO, effective November 1, 2026, and appointed Himmat Singh Sandhu as his successor for a three-year term.

Leadership transition details

The board of Advent Hotels International formally accepted Rahul Pandit's resignation from the positions of Managing Director and Chief Executive Officer. The change in leadership takes effect from November 1, 2026, with Himmat Singh Sandhu stepping in as the incoming successor to both roles. His appointment is subject to shareholder approval at the Annual General Meeting.

Sandhu replaces Pandit as a member of the Audit Committee. The revised committee constitution includes Ajoy Mehta as Chairman, Maryam Khan as Member, and Himmat Singh Sandhu as Member. Sandhu is also authorised to determine materiality of events under Regulation 30 of the SEBI Listing Regulations, alongside CFO Amit Kumar Jain.

Corporate actions and AGM

The board approved an increase in authorised share capital from ₹75.2 crore to ₹160 crore. This increase involves expanding equity shares from 6.52 crore to 15 crore shares of ₹10 face value each, while retaining 1 crore redeemable preference shares of ₹10 face value each. Shareholder approval is required for this capital increase.

The company scheduled its Annual General Meeting for September 29, 2026, at 3:00 pm via video conferencing or other audio-visual means. The notice will be dispatched in compliance with the Companies Act, 2013.

Profile of incoming MD and CEO

Himmat Singh Sandhu holds a Hotel Management degree from Oberoi Hotels, India (1978-1980) and a Bachelor of Arts in Economics and Political Science from the University of Punjab (1975-1978). He has extensive experience in hospitality development and operations.

Since 2016, Sandhu has led the hospitality development arm of Dynamix Group. Key achievements include directing a property turnaround to achieve 5-star classification within eight months and leading the Hyatt Centric hotel development at Bambolim, Goa. Previously, he served as General Manager at Goa Institute of Management (2015-2016) and Director of School Operations with GEMS Education in Singapore, Dubai, and UAE (2008-2015), managing over 20 schools and overseeing significant construction projects.

Earlier roles include Operations Director at Shanghai American School (2001-2008) and General Manager at Crowne Plaza properties in China and Nepal (1994-2001). Sandhu began his career at Oberoi Hotels in 1980, rising to General Manager by age 35. He received the General Manager of the Year Award for Asia Pacific from InterContinental Hotels in 1996.

Promoter group members of Advent Hotels International have released pledges over a combined 32,60,529 equity shares following the full repayment of underlying bank facilities. The disclosures were made to stock exchanges on August 26, 2026.

Sanjana Goenka released a pledge over 21,70,000 shares, while Aseela Vinod Goenka released a pledge over 10,90,529 shares. Both actions were reported under Regulation 31(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Repayment Drives Release

The encumbrances were originally created in connection with facilities sanctioned by HDFC Limited (now merged with HDFC Bank Limited) to MIG (Bandra) Realtors & Builders Private Limited, a wholly owned subsidiary of Valor Estate Limited. Valor Estate had previously merged with Esteem Properties Private Limited and Advent Hotels International Limited through a Composite Scheme of Amalgamation and Arrangement sanctioned by the National Company Law Tribunal. Under this scheme, pledges held over Valor Estate’s shares were automatically extended to the corresponding shares allotted in Advent Hotels.

IDBI Trusteeship Services Limited, acting as the Share Pledge Trustee on behalf of the lender, formally released the encumbrances after the borrower fully repaid the facilities. The release for Sanjana Goenka occurred in two tranches: 13,15,000 shares on August 18, 2026, and 8,55,000 shares on August 19, 2026. Aseela Vinod Goenka’s pledge was released on August 19, 2026.

What the Numbers Show

The simultaneous release of pledges by two major promoter entities significantly improves the unencumbered stake quality of the promoter group. Prior to these releases, Sanjana Goenka held 21,70,000 encumbered shares (92.81% of her holding), while Aseela Vinod Goenka held 10,90,529 encumbered shares (67.71% of her holding). Following the updates, both entities now hold their respective stakes free of any lien or pledge, indicating a complete de-leveraging of their specific equity positions.

Promoter Holding Structure

The total promoter group holding in Advent Hotels International Limited remains at 1,31,06,183 shares, constituting 24.31% of the total share capital. Apart from Sanjana Goenka and Aseela Vinod Goenka, other promoter entities including Vinod Goenka, Vinod Goenka HUF, Jayardhan Goenka, and the Goenka Family Trust hold their shares free of encumbrance.

The disclosures confirm that no new encumbrances were created during this period, and the pledged shares for these specific entities are effectively cleared.