Spice Islands Industries Limited has filed its quarterly statement of deviation or variation in utilization of funds raised through preferential issue for the quarter ended December 31, 2025, in compliance with SEBI regulations. The company submitted the report to BSE Limited on February 09, 2026, confirming no deviations from the original fund utilization objectives.

Fund Raising Details

The preferential issue was executed through a two-stage process involving warrant allotment and subsequent conversion. The company initially allotted warrants convertible into equity shares on October 30, 2024, followed by the conversion of these warrants into equity shares on December 01, 2025.

Fund Utilization Structure

The preferential issue followed a structured payment mechanism where allottees paid 25% of the issue price during warrant allotment and the remaining 75% during conversion. The initial payment of Rs. 11.25 per warrant aggregated to Rs. 2,17,49,895, while the conversion payment of Rs. 33.75 per warrant totaled Rs. 6,52,49,685.

Utilization Status and Compliance

The company allocated the entire proceeds of Rs. 8,69,99,580 for working capital requirements, business expansion, and general corporate purposes. The quarterly report indicates substantial utilization of the raised funds with minimal balance remaining.

Regulatory Compliance

The filing was made pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular CIR/CFD/CMD1/162/2019 dated December 24, 2019. The company confirmed that no monitoring agency was applicable for this fund raising, and there were no deviations from the original objects or shareholder-approved modifications.

The statement was signed by Arti Lalwani, Company Secretary and Compliance Officer, confirming the accuracy of the fund utilization details and compliance with regulatory requirements for the quarter ended December 31, 2025.

Spice Islands Industries Limited has achieved a significant milestone by securing its first international purchase order, marking the company's formal entry into the global trade market. The Mumbai-based company announced this strategic development through a press release dated January 25, 2026, filed under Regulation 30 of SEBI listing requirements.

First International Order Details

The company has received its inaugural export order from Emazing Deals, a UAE-based entity, for the supply of perfumes. This order represents a substantial business opportunity and establishes the foundation for the company's international expansion strategy.

Strategic Partnership for Order Execution

To ensure successful execution of this international order, Spice Islands Industries Limited has established a strategic partnership with Sterling Perfumes Industries LLC, UAE. This collaboration is particularly significant as Sterling Perfumes Industries LLC owns the globally recognized fragrance brand ARMAF, which ensures product authenticity and adherence to international quality standards.

The partnership approach demonstrates the company's commitment to maintaining high-quality standards in its international operations while leveraging established brand recognition in the global fragrance market.

Global Trade Vertical Launch

This transaction marks the formal commencement of Spice Islands Industries Limited's Global Trade vertical, representing a strategic diversification from its traditional business operations. The company has positioned this new vertical to focus on three key product categories:

• Fragrances
• Personal care products
• Lifestyle products

The management believes this order establishes a scalable foundation for international business expansion, particularly targeting high-growth regions including the Middle East.

Strategic Significance and Future Outlook

According to the company's management, this first international order reflects growing international confidence in Spice Islands Industries Limited's execution capabilities. The successful securing of this UAE-based order signals the company's strategic intent to expand its presence in global markets.

The company views this development as more than just a single transaction, positioning it as the cornerstone for building a comprehensive international business presence. The focus on the Middle East market, beginning with this UAE order, indicates a targeted approach to global expansion in regions with strong demand for fragrance and lifestyle products.