Sayaji Hotels Limited has approved an investment of ₹26,000 to acquire a 26% stake in a Special Purpose Vehicle (SPV) named Avanir Wellness Resorts Private Limited. The decision was taken by the Board of Directors at a meeting held on May 28, 2026. The SPV is being incorporated to develop an Iconic Wellness Centre in accordance with a tender allotment letter dated March 20, 2026, issued by Nava Raipur Atal Nagar Vikas Pradhikaran (NRANVP).

The investment involves the subscription of 2,600 equity shares with a face value of ₹10 each. The name Avanir Wellness Resorts Private Limited has been approved by the Registrar of Companies, West Bengal, Ministry of Corporate Affairs, Government of India. The entity will operate within the hospitality services sector.

M/s. RDB Real Estate Construction Limited is identified as the lead member in the venture alongside Sayaji Hotels Limited. The consideration for the investment is entirely in cash. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Investment Details

The project is based on the terms and conditions mentioned in the Request for Proposal (RFP) and the subsequent tender allotment letter. The SPV is yet to be fully incorporated, with the name approval being the current regulatory milestone achieved.

Sayaji Hotels Limited has successfully completed its postal ballot process for the appointment of a new director and submitted formal regulatory compliance documentation to BSE Limited. The company has formally notified the exchange under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming the appointment of Mr. Kayum Razak Dhanani (DIN: 00987597) as a Non-Executive Non-Independent Director following overwhelming shareholder approval.

Voting Results and Shareholder Participation

The postal ballot results revealed exceptional shareholder support for the proposed appointment. Out of 6185270 total votes polled, 6185267 votes were cast in favor of the resolution, representing a remarkable 99.9998% approval rate. Only 3 votes were registered against the proposal, highlighting the strong consensus among shareholders.

E-Voting Process and Timeline

The company conducted the postal ballot exclusively through electronic voting means, ensuring transparency and accessibility for all eligible shareholders. The e-voting period remained open from Saturday, March 7, 2026, at 09:00 A.M. IST to Monday, April 6, 2026, at 05:00 P.M. IST. The cut-off date for determining eligible voters was set as Saturday, February 28, 2026.

Director Profile and Background

Mr. Kayum Razak Dhanani brings specialized industry expertise to the board, holding a diploma in sole-making from the Central Leather Research Institute, Chennai. He has been associated with Sara Suole Private Limited since 2005, which is involved in the business of manufacturing, processing and selling leather goods, including soles, shoes and other leather accessories. The appointment follows his initial designation as an Additional Director on February 10, 2026, at the Board Meeting.

Regulatory Compliance and Documentation

The company has fulfilled all regulatory requirements by submitting the voting results and scrutinizer's report to BSE Limited under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Puneet Karade signed the submission documents on April 7, 2026, completing the formal notification process to the stock exchange. The appointment documentation confirms that Mr. Kayum Razak Dhanani is not debarred from holding the office of Director by any SEBI order or any other such authority.

Family Connections and Board Composition

The appointment strengthens family representation on the board, as Mr. Kayum Razak Dhanani is related to several existing directors including Mr. Raoof Razak Dhanani (Managing Director), Mr. Mohammad Yusuf Abdul Razak Dhanani (Non-Executive Non-Independent Director), and Mrs. Suchitra Dhanani (Whole-Time Director). The complete results and scrutinizer's report are available on the company's website at www.sayajihotels.com , ensuring transparency and accessibility for all stakeholders.