Spice Lounge board to consider $5 million overseas investment

Spice Lounge Food Works Limited, formerly Shalimar Agencies Limited, has announced a board of directors meeting scheduled for September 24, 2025, at 03:30 PM. The primary agenda includes considering and approving a proposal for an Overseas Direct Investment (ODI) in its Wholly Owned Subsidiary (WOS), Teksoft Systems INC, based in the United States of America.

The proposed investment is capped at $5 million and will be executed in one or more tranches. This transaction will adhere to the applicable provisions of the Companies Act, 2013, FEMA, RBI regulations, SEBI LODR Regulations, 2015, and other relevant statutory requirements.

Further details regarding this matter, in accordance with Regulation 30 of SEBI LODR, will be submitted following the outcome of the board meeting. The intimation of this meeting was sent to BSE Limited, Metropolitan Stock Exchange of India Limited, and The Calcutta Stock Exchange Limited.