Spice Islands Industries Limited has filed another insider trading disclosure with BSE Limited following the conversion of convertible warrants by an immediate relative of a Director. The latest disclosure was submitted on December 15, 2025, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Latest Transaction Details

The most recent insider trading disclosure pertains to Mrs. Shifa Chapra, identified as an immediate relative of a Director of Spice Islands Industries Limited. The transaction involved the conversion of convertible warrants into equity shares, representing another significant acquisition of company securities on the same date as previous conversions.

Regulatory Filing Process

Company Secretary and Compliance Officer Arti Lalwani submitted the disclosure following receipt of Form C dated December 12, 2025, from Mrs. Shifa Chapra. The filing was made pursuant to Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Securities Holdings Analysis

The disclosure indicates that prior to this transaction, Mrs. Shifa Chapra held no securities in the company. The conversion of convertible warrants represents the establishment of a significant stake in Spice Islands Industries Limited through equity shares allotted upon conversion.

No derivative trading was reported in connection with this disclosure, as indicated in the submitted Form C documentation. The transaction was completed entirely through the conversion mechanism of existing convertible warrants into equity shares.

Pattern of Recent Insider Activity

This marks the sixth insider trading disclosure filed by Spice Islands Industries Limited in recent times, all involving warrant conversions on December 01, 2025. The series of transactions includes conversions by multiple immediate relatives of Directors, demonstrating coordinated warrant conversion activity.

Company Information

Spice Islands Industries Limited operates from its registered office at Unit No. 3043-3048, 3rd Floor, Bhandup Industrial Estate, Mumbai. The company is incorporated under CIN L11045MH1988PLC050197 with ISIN code INE882D01017 and maintains its listing on BSE Limited under scrip code 526827.

The company has requested BSE Limited to take the disclosure on record and disseminate the information on its website as per regulatory requirements, ensuring full transparency in insider trading activities.

Spice Islands Industries Limited , a company known for its diverse portfolio in the food and hospitality sectors, has taken a significant step to strengthen its financial position and expand its equity base.

Listing Application Details

The company has applied to the Bombay Stock Exchange (BSE) for listing and trading approval of 19,33,324 equity shares with a face value of Rs. 10 each. These shares were issued on a preferential basis upon conversion of warrants. The Board of Directors allotted these equity shares on December 01, 2025, following the in-principle approval granted by BSE on October 21, 2024.

Previous Warrant Conversion

Prior to this application, Spice Islands Industries had announced the conversion of 5,22,220 convertible warrants into equity shares by Dhaval Girish Chheda and four persons acting in concert on December 01, 2025. This earlier conversion had already led to a substantial increase in the company's equity share capital.

Note: Equity Share Capital and Share Count values are in crores.

Impact on Share Capital

The conversion of these warrants into equity shares has led to a significant expansion of the company's share capital. The equity share capital increased from INR 4.30 crores to INR 6.23 crores, with the total share count rising from 4.30 lakh to 62.33 lakh shares. This increase in equity base could potentially enhance the company's ability to fund future growth initiatives and strengthen its balance sheet.

Board's Positive Outlook

The Board of Directors has previously expressed appreciation for the company's strong performance in recent quarters. They highlighted several key factors contributing to this success:

1. Improved Operational Efficiencies: The company has seen enhancements in its operational processes, leading to better overall performance.

2. Market Expansion: Spice Islands Industries has successfully expanded its market presence, particularly in two key segments:

   • Foods & Beverages Segment: The Rogers brand, established since 1837, continues to show robust growth and increasing market presence.

   • Hospitality Segment: The company has expanded its footprint in the hospitality sector with new hotel properties in Dwarka and Somnath, both significant pilgrimage destinations.

Segment-wise Performance

The Board specifically commended the performance of two main business segments:

Foods & Beverages (Rogers Brand)

• Continued success and growing market presence
• Expected to deliver healthy revenues
• Strengthened customer base
• Noteworthy efforts in product innovation and brand-building initiatives

Hospitality (New Hotels in Dwarka & Somnath)

• Impressive progress with the addition of new properties
• Enhanced company footprint in key pilgrimage destinations
• Improved segment performance
• Recognition for operational teams driving quality service and guest satisfaction

Conclusion

The application for listing of 19.33 lakh equity shares, following the previous successful conversion of warrants, demonstrates Spice Islands Industries Limited's commitment to expanding its equity base and potentially enhancing its market position. This move, coupled with strong performance across key business segments, positions the company for potential growth. The strategic expansion in both the food and hospitality sectors, along with its focus on operational efficiencies, suggests a positive outlook for the company.