Ras Resorts & Apart Hotels has notified BSE Limited of a forthcoming board meeting scheduled for Saturday, May 16, 2026. The intimation, dated May 12, 2026, was filed pursuant to Regulation 29(1) & (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Agenda

The Meeting of the Board of Directors has been convened to consider the following key items:

Regulatory Compliance

The notice was submitted to the General Manager, BSE Limited, at Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001, in compliance with applicable SEBI listing regulations. The intimation was signed by Komal Bafna, Company Secretary & Compliance Officer (ACS: 29152), on behalf of Ras Resorts & Apart Hotels.

Ras Resorts and Apart Hotels Limited has received in-principle approval from its Board of Directors for the voluntary delisting of equity shares from BSE Limited. The Board meeting held on May 02, 2026, considered the Letter of Intention from the Promoter Group and the Initial Public Announcement dated May 01, 2026, submitted by merchant banker Sobhagya Capital Options Private Limited.

Board Meeting Outcome

The Board meeting, which commenced at 17.00 PM and concluded at 17.36 PM on May 02, 2026, approved the voluntary delisting proposal in accordance with SEBI (Delisting of Equity Shares) Regulations, 2021. The approval is subject to necessary consents from shareholders, stock exchanges, and other regulatory authorities. Company Secretary Komal Bafna (Mem. No.: A29152) submitted the regulatory disclosure to BSE Limited under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Delisting Offer Parameters

The promoters intend to acquire up to 9,21,582 fully paid-up equity shares of face value ₹10.00 each, representing 23.22% of the company's paid-up equity share capital. The offer targets all 39,69,743 listed equity shares on BSE Limited, excluding 97,211 shares held by the Investor Education and Protection Fund (IEPF).

Appointment of Due Diligence Partner

The Board approved the appointment of M/s. Parikh and Associates as Peer Review Company Secretaries to conduct due diligence under Regulation 10 of SEBI Delisting Regulations. The firm brings over 30 years of experience in corporate laws, securities laws, and capital market transactions, including delisting and open offers. They hold a valid Certificate of Practice from ICSI and are empanelled for undertaking due diligence under SEBI regulations.

Regulatory Framework and Next Steps

The delisting process requires approval from public shareholders through a special resolution via postal ballot, where votes in favor must be at least two times votes cast against. Public shareholders holding 90% or more of public shareholding must provide written consent. The exit price will be determined under Regulation 19A read with Regulation 20 and/or Regulation 20A of SEBI Delisting Regulations, through reverse book building or fixed delisting price mechanism. Sobhagya Capital Options Private Limited (MB/INM000008571) continues as the manager for this delisting offer.