Mumbai (Maharashtra) [India], February 05: Spice Lounge Food Works Limited (SLFW) witnessed a significant surge in its stock performance today, with shares hitting the 5 per cent Upper Circuit to close at Rs 29.77 per share, up from its previous closing price of Rs 28.36. This upward movement coincides with the company’s bold strategic pivot to transform into a technology-enabled hospitality powerhouse.
The company announced its intent to acquire a 100 per cent stake in Singapore-based Prisha Infotech for USD 150,000 in a cash transaction. This acquisition is set to infuse Spice Lounge’s operations with advanced software development and programming capabilities, aiming to revolutionize its supply chain management and enhance data-driven decision-making processes. Although Prisha Infotech was established in 2021, it brings substantial scale with a reported FY2025 turnover of USD 7.86 million, providing Spice Lounge with a robust digital foundation to elevate customer engagement across both its dine-in and delivery platforms. This strategic move into Singapore also marks Spice Lounge’s ambition to establish a global footprint, modernise its diverse food service portfolio, and harness IT efficiencies to fuel high-tech, scalable growth within the competitive food service industry.
Building on over 75 years of combined hospitality expertise, Spice Lounge Food Works Limited, formerly known as Shalimar Agencies Limited, is already a prominent player managing over 13 outlets across two states under various leading global and homegrown brands. The company is actively pursuing an expansion into the experiential market, evidenced by its acquisition of Rightfest Hospitality, which operates venues such as XORA Bar & Kitchen and SALUD beach club. This strategic initiative positions SLFW as a comprehensive lifestyle entity catering to affluent millennials and tourists. Further underscoring its global aspirations, the company’s Chairman has been authorized to evaluate the acquisition of a majority stake in the international luxury dining group Blackstone Management LLC, signalling a clear intent to build a formidable global platform.
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