Sayaji Hotels (Pune) Ltd Share Price

History of Sayaji Hotels (Pune) Ltd

Sayaji Hotels (Pune) Limited was incorporated as a Public Limited Company vide Certificate of Incorporation dated May 10, 2018 issued by the Deputy Registrar of Companies, Central Registration Centre. The Company is a sophisticated collection of individually designed hotels, catering to both leisure and business travellers with stylish guest rooms and versatile meeting facilities. The Hotel is known for its bespoke experience and signature hospitality. The Company launched the project for first phase of its Pune Hotel on March 28, 2009, comprising of 256 rooms. It launched the Final phase of its Pune hotel, comprising a project of 243 room in 2010; comprising 243 rooms in 2011. The five barbeque-nation restaurants were opened in the Company and operating rights of the same were t ...ransferred to subsidiary w.e.f. 01st April 2009. During the year 2013-14, the Company increased its stake in Aries Hotels Pvt. Ltd., an associate, resultantly it become a subsidiary with effect from 31.03.2014. The Company upgraded 2 Floors of its Hotel at Indore, incurring Rs. 5.30 Crore. The Company in 2014-15, renewed various mini banquet halls of the hotel and launched the Bhopal Unit. In 2016-17, the Company renovated one floor of the hotel, some banquet halls and constructed of a large kitchen and other sports amenities in Indore. The construction of the Amber Convention Centre at Indore (M.P.) was also completed during the year and made operative. In April 2017, the Company started the operation in the City of Raipur, Chhattisgarh. It launched one more 4 Star hotel in the Vadodara City under the Sayaji' brand comprising of 137 rooms, 2 restaurants and multiple banquet facilities. The existing hotel at Vadodara city was re-branded in the name of Effotel' during 2018. In May 2018, the Company incorporated 3 new public limited companies as its wholly owned subsidiary i.e. Sayaji Hotels Management Limited; Sayaji Hotels (Pune) Limited and Sayaji Hotels (Vadodara) Limited. In 2020-21, the Company extended the existing Bhopal property by adding 30 rooms. Further M/s Sayaji Hotels Management Limited (SHML), a Wholly Owned Subsidiary of the Company got into 7 (Seven) Management Agreement for the expansion of SHML by having new properties in Vizag, Bhuj, Dehradun, Udaipur, Jamnagar, Nashik and Morbi. The SHML also signed a term sheet with M/s Intellistay Hotels Pvt. Ltd. (IHPL) for acquisition of 51% stake in IHPL. At present IHPL runs 20 hotels (1028 Rooms) across the country on asset light model under the Brand Name Mango Suites, Istay Hotels, Mango Select, Apodis. The Company sold investment in 68,93,998 Equity Shares that represent 51.67% held in Malwa Hospitality Private Limited to the promoters and relative of the promoters of the Company on 31st March, 2021, as a result it ceased as a material subsidiary of the Company. In 2022-23, the Composite Scheme of Amalgamation and Arrangement between Sayaji Hotels Limited and Sayaji Hotels (Pune) Limited (SHPL) For the transfer and vesting of the Demerged Undertaking of Baroda Business as a going concern consisting of 3 star hotel (operated under the brand 'Effotel') located at Kala Ghoda, Sayajigang, Vadodara and Pune Business as a going concern consisting of 5 star hotel (operated under the brand 'Sayaji ') located at Village Wakad, Taluka Mulshi, Pimpri Chinchwad Municipal Corporation, Pune from Sayaji Hotel Ltd. In terms of the Said Scheme, 4 Fully Paid-up Equity Shares of Rs.10/- each of Sayaji Hotel (Pune) Limited were issued and allotted for every 23 Fully Paid-Up Equity Shares of Rs.10/- each held in Sayaji Hotel Ltd.', which got listed in Exchange on January 29, 2024.