Spice Islands Industries Limited will hold a board meeting on July 3, 2026, to consider the sub-division of its equity shares to enhance liquidity. The meeting, scheduled for 4:00 P.M., will evaluate splitting one share of face value ₹10 into five shares of face value ₹2 each, subject to shareholder and regulatory approvals. This corporate action aims to make the stock more affordable for investors.

The board will also consider the consequential alteration of the capital clause of the Memorandum of Association following the proposed share split. Alongside the financial restructuring, the directors will address several key managerial appointments and re-designations.

Mr. Sandeep Jamnadas Merchant is slated for re-designation from Whole-Time Director to Managing Director and Vice Chairman, effective from June 19, 2026, until November 7, 2028. The board will also seek shareholder approval to regularize the appointments of Mrs. Nitu Vishwakarma as a Non-Executive Independent Director, Dr. Huzaifa Habil Khorakiwala as a Non-Executive Director and Chairman, and Mr. Nikhil Saran Mathur as a Non-Executive Director.

Furthermore, the meeting will consider the re-appointment of Mr. Chirag Chandulal Rajpopat, a director retiring by rotation pursuant to Section 152(6) of the Companies Act, 2013. The agenda includes approving related party transactions and convening the notice for the 38th Annual General Meeting of the Company.

The trading window for dealing in the securities of the company will remain closed for designated persons and their immediate relatives until 48 hours after the declaration of the board meeting outcome.

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