Spice Islands Industries Limited has announced the resignation of its Independent Director Mr. Dipesh Dalvi, effective March 16, 2026. The company informed BSE Limited about this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Resignation Details

Mr. Dipesh Dalvi, holding Director Identification Number (DIN) 08572894, tendered his resignation through a formal letter dated March 16, 2026. The resignation became effective from the close of business hours on the same date. In his resignation letter, Mr. Dalvi cited "increasing professional commitments" as the primary reason for stepping down from his position.

Committee Positions and Responsibilities

Mr. Dalvi held significant positions across multiple board committees of Spice Islands Industries Limited. His resignation resulted in his stepping down from all committee roles where he served as either Chairman or Member.

Regulatory Compliance and Documentation

The formal intimation to BSE Limited was signed by Ms. Arti Lalwani, Company Secretary and Compliance Officer (Membership no. A59871). The communication included comprehensive annexures as required under SEBI Master Circular for compliance with SEBI (LODR) Regulations. Mr. Dalvi provided written confirmation that there are no other material reasons for his resignation beyond those mentioned in his resignation letter.

Company Information

Spice Islands Industries Limited, formerly known as Spice Islands Apparels Limited, has its registered office located at Unit No. 3043-3048, 3rd Floor, Bhandup Industrial Estate, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai. The company operates under CIN NO: L11040MH1988PLC050197 and maintains transparency by making all resignation-related information available on its official website.

Spice Islands Industries Limited has submitted an application to BSE Limited seeking trading approval for equity shares allotted through warrant conversion. The company made this disclosure on March 02, 2026, in compliance with regulatory requirements under SEBI listing regulations.

Share Allotment Details

The application pertains to trading approval for a significant number of equity shares resulting from warrant conversion. The company has provided specific details about the share allotment to ensure transparency with the exchange and investors.

Corporate Action Completion

The company has confirmed that all necessary procedural steps have been completed for the warrant conversion process. The equity shares have been duly credited to the respective beneficiaries' demat accounts, ensuring that the allottees have received their entitled shares.

The corporate action for extinguishment of warrants has been completed with the depositories, indicating that the conversion process has been finalized in accordance with regulatory requirements. This step ensures that the original warrants are no longer valid and have been replaced by the corresponding equity shares.

Regulatory Compliance

Spice Islands Industries has already received listing approval from BSE Limited for these shares and has now applied for the final step of trading approval. The company made this intimation pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The application for trading approval represents the final regulatory step before these shares can be actively traded on the exchange, completing the warrant conversion process for the company's stakeholders.