Spice Lounge Food Works' Board to Consider Acquisition at Meeting on October 28

DSIJ Intelligence-1 / 24 Oct 2025/ Categories: Multibaggers, Penny Stocks, Trending

The stock has given multibagger returns of 829 per cent from its 52-week low of Rs 4.83 per share and a whopping 3,700 per cent in 5 years.

On Friday, shares of Spice Lounge Food Works Limited surged 2 per cent to an Intraday high of Rs 44.88 per share from its previous closing of Rs 44 per share. The stock’s 52-week high is Rs 50.94 per share and its 52-week low is Rs 4.83 per share.

The company's Board of Directors met today, October 23, 2025, at the Registered Office as previously scheduled in their communication dated October 15, 2025. During the meeting, the Board considered the circulated agenda items, with a key focus on the proposal for the acquisition of entity(ies)/business(es). After detailed deliberation, the Board decided to adjourn the decision on this specific acquisition proposal to the next Board Meeting, which is scheduled for October 28, 2025. The purpose of the adjourned meeting is for further consideration and a final decision on the acquisition proposal(s) and to transact any other business with the permission of the Chair. No other major items were transacted outside the ordinary course of business.

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About the Company

Shalimar Agencies Limited officially changed its name to Spice Lounge Food Works Limited, updating its Scrip ID and abbreviated name on the BOLT Plus System to "SPICELOUNG" in compliance with LODR Regulations, 2015. Spice Lounge Food Works Ltd operates restaurants and hospitality services, focusing on delivering high-quality, diverse dining experiences that blend authentic and contemporary styles, aiming to expand its footprint as a preferred choice for casual and fine dining.

In Q1FY25, the company reported net sales of Rs 32.29 crore and net loss of Rs 1.18 crore while in FY25, the company reported net sales of Rs 105 crore and net profit of Rs 6 crore. The company has a market cap of over Rs 3,000 crore. The stock has given multibagger returns of 829 per cent from its 52-week low of Rs 4.83 per share and a whopping 3,700 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.