Key Revisions from Previous Filing

This revised Letter of Offer incorporates two specific updates compared to the earlier version dated August 19, 2026:

  • Update of the address and email ID of the Registrar and Transfer Agent (RTA), KFIN Technologies Limited.
  • Correction of a typographical error in the date of the Fund Deployment Certificate appearing on page 99 of the Letter of Offer.

Except for these updates, there are no changes to the terms, conditions, or other particulars of the Rights Issue.

Rights Issue Details

  • Number of Shares Offered: Up to 92,03,008 fully paid-up Equity Shares
  • Face Value: ₹10/- per share
  • Issue Price: ₹115/- per Equity Share (including a premium of ₹105 per share)
  • Total Issue Size: ₹10,583.46 Lakhs (assuming full subscription)
  • Offer Ratio: 6 (Six) Rights Equity Shares for every 7 (Seven) fully paid-up Equity Shares held
  • Record Date: August 20, 2026
  • Eligible Shareholders: Public Shareholders (holders as on Record Date, excluding the Promoter and Promoter Group)
  • Promoter Participation: The Promoter, Loko Hospitality Private Limited, has formally indicated it will forgo its entire entitlement to equity shares arising from this issue. This is intended to reduce the promoter's shareholding to help meet Minimum Public Shareholding (MPS) requirements as mandated by SEBI Listing Regulations.

Payment Schedule

  • Total Amount Payable per Share: ₹115.00
  • Payable entirely on Application: ₹115.00 (Face Value: ₹10.00 + Premium: ₹105.00)

Issue Schedule

  • Last Date for Credit of Rights Entitlements: Wednesday, September 02, 2026
  • Issue Opening Date: Thursday, September 03, 2026
  • Last Date for On-Market Renunciation: Monday, September 07, 2026
  • Issue Closing Date: Friday, September 11, 2026
  • Finalisation of Basis of Allotment (on or about): Tuesday, September 15, 2026
  • Date of Allotment (on or about): Tuesday, September 15, 2026
  • Date of Credit of Rights Equity Shares (on or about): Wednesday, September 16, 2026
  • Date of Listing/Trading (on or about): Thursday, September 17, 2026

The Board reserves the right to extend the Issue period, but not exceeding 30 days from the Issue Opening Date. No withdrawal of applications is permitted after the Issue Closing Date.

Utilisation of Proceeds (Net Proceeds: ₹10,528.46 Lakhs after estimated issue expenses of ₹55.00 Lakhs)

The Net Proceeds are proposed to be utilized as follows:

1. Repayment/Pre-payment of certain Company borrowings (₹4,135.13 Lakhs | 39.28% of Net Proceeds): Identified loans from Kotak Mahindra Bank Limited totaling ₹4,562.75 Lakhs outstanding as of June 16, 2026. A prepayment charge of 1% is applicable on the prepayment from the proceeds.

2. Investment in Wholly-Owned Subsidiary, SLN Terminus Hotels & Resorts Pvt. Ltd. (₹3,889.87 Lakhs | 36.95% of Net Proceeds): For repayment/pre-payment of its borrowings. The form of infusion (equity, debt, etc.) will be decided by the Board. Identified loans for SLN are from Kotak Mahindra Bank Ltd. (₹2,915.04 Lakhs) and Aditya Birla Capital Ltd. (₹974.83 Lakhs), totaling ₹3,889.87 Lakhs outstanding as of June 29, 2026. A prepayment charge of 4% is applicable on the ABCL loan prepayment.

3. General Corporate Purposes (₹2,503.46 Lakhs | 23.78% of Net Proceeds): May include business growth, capex, renovation, prepayment of other borrowings, etc., as approved by management, subject to not exceeding 25% of Gross Proceeds.

Capital Structure Impact

  • Pre-Issue Paid-Up Capital: 6,75,78,948 Equity Shares of ₹10 each (₹6,757.89 Lakhs)
  • Securities Premium Account (Pre-Issue): ₹21,647.08 Lakhs
  • Post-Issue Paid-Up Capital (assuming full subscription): 7,67,81,956 Equity Shares of ₹10 each (₹7,678.20 Lakhs)
  • Post-Issue Securities Premium Account (assuming full subscription): ₹31,310.24 Lakhs
  • Promoter Holding Pre-Issue: 5,68,42,105 shares (84.11%)
  • The issue aims to reduce promoter holding to meet MPS norms; the promoter is forgoing its entitlement.

Key Intermediaries

  • Registrar to the Issue (RTA): KFIN Technologies Limited
  • Bankers to the Issue & Escrow Collection Bank: Kotak Mahindra Bank Limited
  • Statutory Auditors: M/s. MSKC & Associates LLP
  • Monitoring Agency: CARE Ratings Limited (appointed to monitor utilization of proceeds)
  • Designated Stock Exchange: BSE Limited

Risk Factors Summary (Selected Material Risks)

The document lists numerous risks. Key internal business risks include the cyclicality of the hotel industry, dependence on brand reputation, ability to attract staff, and outstanding litigation (notably a ₹350 Lakh electricity demand dispute considered material). Key issue-specific risks include the promoter not participating, potential undersubscription by public shareholders, inability to withdraw applications post-closing, and the risk of the share price fluctuating below the issue price (₹115). The ex-rights price is calculated as ₹131.15.

Litigation and Compliance

  • Material Litigation: One material case involving a ₹350 Lakh demand notice from TGSPDCL (Telangana Power Distribution) related to pre-resolution plan periods, which the company is challenging based on the IBC resolution plan.
  • Past Regulatory Actions: The company paid a penalty of ₹5,000 each to BSE and NSE for a one-day delay in filing a related party transaction disclosure (Reg. 23(9) of LODR) and received warning letters for non-disclosure regarding the non-finalization of a forensic audit.
  • Other Compliance: The company has redressed all investor complaints until the preceding quarter and confirms that neither it, its promoters, nor its directors are wilful defaulters or fraudulent borrowers.

Other Confirmations

  • The company has received 'in-principle' approval from BSE and NSE for listing the new shares (letters dated August 11, 2026).
  • The Rights Entitlements (RE) will be credited in dematerialized form only. The RE ISIN is INE048C20025.
  • Eligible shareholders holding physical shares must provide demat account details to the RTA at least 2 working days before the Issue Closing Date to receive their entitlements and participate.
  • The offer is not being made in the United States or any other jurisdiction where it would be illegal. Rights Entitlements and Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933.

Declaration

The company declares responsibility for the information contained in the Letter of Offer, confirming it is true, correct, not misleading, and contains all material information.