Spice Islands Industries Limited has entered into a Hotel Lease & Operating Agreement with Ladhu Kara Charities, also known as Seth Ladhukara Charity Trust, to operate a hotel property known as "The Ocean Prime" in Dwarka, Gujarat. The agreement, signed on June 25, 2026, allows the company to take on lease and manage the property to expand its hospitality business and generate additional revenue.

The hotel is situated at Survey No. 3915, Near Vegetable Market, Sidhanath Road, Devbhumi Dwarka, Gujarat. The property includes 26 rooms along with restaurant facilities, comprising the hotel premises as well as furniture, fixtures, fittings, and equipment. The lease arrangement is not a Related Party Transaction and has been entered into with an unrelated party at arm's length.

The agreement is set to commence on July 1, 2026, and will remain valid for a period of 11 months and 29 days, ending on June 30, 2027, unless terminated earlier in accordance with the terms. The company will be responsible for operating and managing the hotel in line with the stipulated terms of the contract.

Financial terms of the lease include a monthly rent of ₹3,00,000, which is subject to an annual escalation of 10%. Additionally, the company is required to pay a refundable security deposit of ₹50,00,000 to the lessor as part of the agreement.

The disclosure was made to the BSE Ltd under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Arti Lalwani, Company Secretary and Compliance Officer, signed the filing on June 27, 2026.

Key Agreement Details

Spice Islands Industries Limited has entered into a strategic partnership to manufacture and market packaged drinking water and soda products. The company's Board of Directors approved an Agreement-cum-Memorandum of Understanding (MoU) with Erva Food and Beverages Private Limited on June 26, 2026, to facilitate the production, bottling, packaging, supply, and marketing of Packaged Drinking Water, Club Soda, Flavoured Soda, and allied products.

The partnership aims to leverage mutual commercial terms to expand the company's portfolio into the beverage sector. Erva Food and Beverages Private Limited holds FSSAI Licence No. 12123801000532, ensuring compliance with food safety regulations for the proposed manufacturing activities.

Key Details of the Agreement

The agreement outlines the commercial understanding between the two entities without conferring special rights such as board appointments or share subscription privileges. The transaction does not fall within the ambit of a related party transaction, and Spice Islands Industries Limited does not hold any shareholding in Erva Food and Beverages Private Limited.

Board Approval and Authorization

The Board of Directors passed the circular resolution on June 26, 2026, in accordance with Section 175 of the Companies Act, 2013, and relevant rules. Mr. Dhaval G. Chheda, Chief Executive Officer (CEO), has been authorized to negotiate, finalize, execute, and sign the agreement and all related documents on behalf of the company. The resolution became effective immediately upon passage by the requisite majority of directors.