Spice Lounge Food Works Limited has received board approval for the acquisition of Singapore-based Prisha Infotech Pte. Ltd for USD 1.50 lakh. The board of directors approved this strategic acquisition on December 17, 2025, marking a significant step in the company's international expansion strategy in the IT services sector.

Acquisition Overview

The board meeting, conducted from 2:30 PM to 5:50 PM IST, formally approved the complete acquisition of Prisha Infotech Pte. Ltd, which will become a wholly owned subsidiary effective January 1, 2026.

Target Company Profile

Prisha Infotech Pte. Ltd, incorporated on May 6, 2021, is a Singapore-based company specializing in software development and programming services. The company operates in the IT and IT-enabled services sector, complementing Spice Lounge Food Works' business expansion objectives.

Financial Performance

The target company's revenue performance demonstrates consistent business operations:

Strategic Benefits

The acquisition is positioned as a strategic initiative designed to create growth opportunities and enhance revenue potential. Key advantages include:

• Expanded international market presence in Singapore
• Enhanced capabilities in IT and software development services
• Access to new revenue streams through combined operations
• Strengthened position in the IT services sector

Regulatory Framework

The transaction maintains full compliance with regulatory requirements and does not constitute a related party transaction. The company has ensured adherence to SEBI regulations, with completion expected within 12 months from the board approval date. Detailed disclosures have been provided under Regulation 30 of SEBI (LODR) Regulations, 2015, ensuring transparency in this strategic acquisition.

Spice Lounge Food Works Limited , a publicly listed food service company, has made a significant move in the Quick Service Restaurant (QSR) sector by acquiring the exclusive master franchise rights for WingZone in India. This strategic acquisition marks an important milestone in the company's growth strategy and positions it to capitalize on the burgeoning Indian QSR market.

WingZone: A New Player in India's QSR Landscape

WingZone, an internationally recognized QSR brand, is renowned for its chicken-based offerings and innovative menu. The brand's entry into the Indian market through Spice Lounge Food Works Limited aims to bring its signature flavors and premium-quality chicken products to Indian consumers.

Expansion Plans

Spice Lounge Food Works has outlined an expansion strategy for WingZone in India:

1. Initial Launch: The company plans to open India's first WingZone outlet in Koramangala, Bangalore. Koramangala, known for its vibrant food and beverage scene, offers a high concentration of young consumers and strong footfall, making it an ideal location for the brand's debut.

2. Phased Expansion: Following the Koramangala launch, the company intends to expand WingZone's presence with additional outlets across Bangalore, Hyderabad, and Chennai.

3. Nationwide Growth: Further rollout is planned in other major cities as part of a structured, multi-phase expansion strategy.

4. Format Diversity: The expansion will utilize a mix of high-street outlets and cloud-kitchen formats to ensure both accessibility and scalability.

Strategic Implications

This acquisition aligns with Spice Lounge Food Works' broader vision to strengthen its presence in the fast-growing Indian QSR sector. By adding WingZone to its portfolio, the company aims to:

• Diversify its multi-brand food service portfolio
• Tap into the demand for international QSR brands in India
• Leverage its operational expertise to drive WingZone's growth in the Indian market

Market Outlook

The Indian QSR market is experiencing momentum, driven by:

• Evolving consumer preferences
• Rising urbanization
• Increasing adoption of global food formats

Spice Lounge Food Works, with its 75+ years of combined hospitality expertise and a 500-member team, is positioned to capitalize on these trends and work towards establishing WingZone as a player in the Indian QSR landscape.

As the company embarks on this new venture, it will be interesting to observe how WingZone's menu innovation and Spice Lounge Food Works' local market expertise combine to cater to the Indian palate and contribute to the food service sector in the country.