Spice Islands Industries Limited has received trading approval from BSE for 19,33,324 equity shares allotted through conversion of warrants issued on preferential basis. The company informed the exchange about the approval through a regulatory filing under Regulation 30 of SEBI Listing Regulations on March 20, 2026.

Share Allotment Details

The newly allotted equity shares carry specific parameters as outlined by BSE in their approval letter:

Trading and Lock-in Provisions

BSE has confirmed that the shares will be listed and permitted for trading with effect from Monday, March 23, 2026. The exchange issued Notice No. 20260320-16 dated March 20, 2026, informing trading members about the new securities listing.

The shares are subject to lock-in restrictions as mandated by regulatory requirements:

Regulatory Compliance

The company has fulfilled all necessary compliance requirements for the warrant conversion and subsequent share allotment. BSE's approval letter LOD/PREF/SV/342/2025-2026 dated March 20, 2026, confirms that all application submissions were satisfactory.

The newly issued shares rank pari-passu with the existing equity shares of the company, providing equal rights and privileges to the allottees. This warrant conversion represents a significant corporate action for Spice Islands Industries Limited, adding substantial equity capital to its existing share base.

Company Information

Spice Islands Industries Limited, formerly known as Spice Islands Apparels Limited, operates from its registered office at Unit No. 3043-3048, 3rd Floor, Bhandup Industrial Estate, Mumbai. The company trades on BSE under scrip code 526827.

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.