Advent Hotels International Limited has been penalized by both major Indian stock exchanges for delayed submission of its financial results for the quarter ended September 30, 2025. The company received notices on December 16, 2025, imposing fines for non-compliance with regulatory requirements.

Penalty Details

The regulatory penalties imposed on the company are as follows:

Reason for Delay

The compliance issue stemmed from regulatory interpretation confusion following the company's recent listing. Advent Hotels International was listed on November 13, 2025, pursuant to a Composite Scheme of Amalgamation and Arrangement. Based on their initial understanding of Regulation 33(3)(j) and legal advice received during the listing process, the company believed financial results could be submitted within 21 days from the listing date or the standard 45-day timeline from quarter-end, whichever was later.

However, subsequent exchange guidance and clarifications received on November 17, 2025, revealed that the 21-day reference under Regulation 33(3)(j) applies specifically to entities listed through Initial Public Offerings (IPOs), not to entities listed through schemes of arrangement.

Company's Response

Upon receiving the clarification, Advent Hotels International immediately took corrective action. The company convened its Audit Committee and Board Meeting, with the Board Meeting to approve the financial results held on November 28, 2025. The required regulatory filings were completed thereafter.

The company emphasized that the delay was unintentional and arose solely due to the bona fide interpretational issue regarding regulatory requirements for scheme-based listings versus IPO listings.

Payment and Compliance

Advent Hotels International has committed to remitting the total fine amount of ₹1,41,600 within the stipulated 15-day period. The company will submit the UTR (Unique Transaction Reference) and proof of payment to both stock exchanges immediately upon remittance. The management stated that the financial impact is limited to the penalty amount, with no other operational or business implications expected from this regulatory matter.

Advent Hotels International Limited (formerly known as Shiva Realtors Suburban Private Limited) has reported a change in its shareholding pattern. Sanjana Vinod Goenka, a member of the company's promoter group, has increased her stake in the company through a market purchase.

Key Details of the Transaction

The transaction was disclosed in compliance with Regulation 29(2) of the Securities and Exchange Board of India (SEBI) Substantial Acquisition of Shares and Takeovers Regulations, 2011.

Impact on Shareholding

This acquisition has resulted in a marginal increase in Sanjana Vinod Goenka's stake in Advent Hotels International Limited. The promoter group member's shareholding has risen from 4.24% to 4.33%, representing an increase of 0.09 percentage points.

Promoter Group Holding

Following this transaction, the promoter group collectively holds 19.96% of the company's total share capital.

Regulatory Compliance

The disclosure of this transaction aligns with SEBI's regulations, which require prompt reporting of substantial share acquisitions or changes in shareholding patterns, especially for promoter group members. This transparency helps maintain market integrity and keeps investors informed about significant changes in company ownership.

About Advent Hotels International Limited

Advent Hotels International Limited, previously known as Shiva Realtors Suburban Private Limited, is listed on both the BSE Limited and the National Stock Exchange of India Limited. The company's shares trade under the scrip code 544446 on BSE and the scrip symbol ADVENTHTL on NSE.

Investors and market participants may want to note this change in shareholding pattern, as it could have implications for the company's ownership structure.