Ras Resorts Board Approves Voluntary Delisting Proposal from BSE
Ras Resorts & Apart Hotels Ltd board granted in-principle approval for voluntary delisting from BSE Limited during meeting held on May 02, 2026. The promoters intend to acquire 9,21,582 equity shares representing 23.22% of paid-up capital, excluding 97,211 IEPF shares. Parikh and Associates appointed as peer review company secretaries for due diligence under SEBI regulations. The process requires shareholder approval through postal ballot and exit price determination under Regulation 19A.
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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).
| Offer Parameters: | Details |
|---|---|
| Script Code: | 507966 |
| Shares to Acquire: | 9,21,582 equity shares |
| Face Value: | ₹10.00 per share |
| Capital Percentage: | 23.22% |
| Total Listed Shares: | 39,69,743 |
| IEPF Exclusion: | 97,211 shares |
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.
Historical Stock Returns for Ras Resorts & Apart Hotels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.66% | +2.97% | +28.40% | +28.78% | +19.57% | +134.23% |
What exit price range might emerge from the regulatory valuation process, and how will it compare to current market trading levels?
Will the stringent 90% public shareholder approval threshold be achievable given the company's dispersed shareholding structure?
How might this delisting trend among smaller hospitality companies affect investor sentiment toward the broader resort and hotel sector?
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