Sharad Fibres And Yarn Processors Limited was incorporated in the state of Maharashtra on 2nd July, 1987. The company was engaged in processing, manufacturing, trading, and dealing in fibres, yarn cloth and various types of fabrics.

On July 22, 2022 Eco Hotels UK Plc, the world's first Carbon Net Zero premium value hotel brand, acquired a 68% stake in Sharad Fibres & Yarn Processors Limited, triggering an Open Offer. This acquisition is part of the capital raise of £10 million to initiate the roll-out of its two brands, The Eco in the 3 star premium segment and Ecolodge in the 2 star budget segment, across India. Eco Hotels intends to roll-out the two brands with a target of operating 5,000 rooms in 5 years.

With a view to make the company operational the board is making all efforts. Towards this end the Main Object Clause in the Memorandum of Association of the Company was amended after due approvals from the shareholders in an Extra Ordinary General Meeting, subsequently the name of the company is changed to Eco Hotels and Resorts Limited.

At present there is no operation in the Company. The new management intends to make the Company operational and has made an offer to acquire the entire shareholding of Eco Hotels India Pvt Ltd by issuing an equal number of shares in Sharad Fibres & Yarn Processors Limited through a preferential allotment. A majority of the shareholders have agreed to the proposal and the transaction has been approved in principle by the Bombay Stock Exchange and will be effective once all approvals are received. Post this transaction Eco Hotels India Pvt Ltd will in effect become our subsidiary.

Eco Hotels UK Plc has developed the world's first Carbon Net Zero hotel brands which will be launched in India. India has a vibrant hospitality sector with robust demand from both domestic and international travellers. India enjoys the greatest opportunity for rapid growth and large scale roll out. Eco Hotel's vision is to create a premium value hotel chain that supports sustainable hospitality without compromising on customer experience.

Eco Hotels is tailored to meet the needs and expectations of the conscious traveller, both business and leisure. It has two brands:

The Eco^™ a 3-star premium brand and Ecolodge™ a 2-star budget brand. These hotels will deliver superior guest services in a market, which is facing a severe shortage of rooms within the mid-scale and budget categories.

The roll out plan for Eco Hotels consists of two phases:

• Phase I: Acquire existing properties, refurbish to Eco Hotels Carbon Net Zero standards, rebrand and operate and/or acquire one or more operating companies with an existing portfolio of hotel assets to increase the operating inventory to circa 400 keys (4 to 5 properties). Initially, the Company will target assets in the western and northern regions namely Mumbai, Goa, Pune and Delhi NCR.


• Phase II: Eco Hotels intends to roll out new build properties through its proprietary EBOT franchise programme to increase its inventory to circa 5,000 rooms by Year 5.