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A promoter of Sayaji Hotels Limited, Raoof Razak Dhanani, has pledged an additional 3,00,000 equity shares, representing 1.71% of the company's total paid-up capital, with Swan Finance Limited. This pledge, involving an amount of 9 Cr, is made as a guarantor. Including this, the promoter now has 12,75,000 shares (7.27% of total capital) encumbered. This means 83.46% of the promoter's total 15,27,630 shares (8.72% holding) are now pledged.