Sayaji Hotels Limited has entered into a comprehensive hotel management agreement with Mahavan Resort LLP, marking a significant expansion in its hospitality management portfolio. The agreement was formalized on January 6, 2026, and disclosed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agreement Structure and Duration

The management agreement establishes a long-term partnership spanning 15 years from the date of commercial commencement of the hotel operations. Upon completion of the initial term, the agreement may be renewed based on mutually agreed terms between both parties.

Property Specifications and Facilities

The hotel property in Somnath, Gujarat, will operate as a 4-star establishment under Sayaji Hotels' management and operational oversight. The comprehensive facility will cater to both leisure and business travelers with diverse accommodation and event options.

Key Facilities Include:

• Accommodation: 50 key rooms
• Event Spaces: 1 banquet hall and 1 banquet lawn
• Dining: 2 restaurants
• Wellness: Gym and spa facilities

The property will operate under the brand name "The Forest Chapter" by Sayaji, representing the company's commitment to maintaining its established brand standards across all managed properties.

Operational Framework

Under the agreement terms, Sayaji Hotels Limited will assume full responsibility for managing and operating the hotel owned by Mahavan Resort LLP. The company will provide operational services while ensuring adherence to its established brand standards and hospitality protocols.

The transaction has been classified as a non-related party transaction, conducted at arm's length, ensuring transparency and regulatory compliance. This strategic partnership allows Sayaji Hotels to expand its management footprint without direct capital investment in property ownership.

Strategic Implications

This management agreement represents Sayaji Hotels' continued focus on expanding its hospitality management services across key tourist destinations in India. The Somnath location provides strategic access to Gujarat's religious tourism circuit, potentially enhancing the company's market presence in the region.

The 15-year commitment demonstrates confidence in long-term partnership benefits while providing Sayaji Hotels with operational control over service delivery and brand representation. The comprehensive facility mix positions the property to serve diverse customer segments, from religious tourists to business travelers requiring event and conference facilities.

Sayaji Hotels Limited has received a disclosure from its promoter regarding the release of share encumbrance under regulatory requirements. The announcement, filed on December 22, 2025, provides information about changes in promoter shareholding status and compliance with SEBI regulations.

Share Encumbrance Release Details

Promoter Raoof Razak Dhanani has declared the release of encumbrance on a significant portion of his equity holdings in the company. The disclosure provides comprehensive details about the transaction, regulatory compliance, and the reasons for the encumbrance release.

Promoter Shareholding Structure

The detailed disclosure reveals the promoter's complete shareholding structure and the impact of the encumbrance release. Raoof Razak Dhanani holds a total of 15,27,630 equity shares, representing 8.72% of the company's total share capital.

Regulatory Compliance Framework

The disclosure has been made under Regulation 31(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates specific reporting requirements for changes in promoter shareholding patterns and encumbrance status.

The promoter has submitted the required documentation in prescribed formats as Annexure-I and Annexure-II, ensuring complete compliance with SEBI requirements. The disclosure includes detailed information about the encumbrance type, which was classified as a pledge release following loan repayment.

Documentation and Transparency

The comprehensive filing includes specific details about the encumbrance arrangement and its release. The shares were originally pledged with State Bank of India Limited, and the release was processed on December 18, 2025, following the repayment of the associated loan obligation.

This encumbrance release represents a significant development in the promoter's shareholding structure, providing increased flexibility in share management while maintaining full regulatory compliance and transparency for all stakeholders.