Spice Lounge Board to Consider Acquisition Proposal; Share Price Jumps Over 7% from Day Low

On Friday, October 17, Spice Lounge Food Works (formerly known as Shalimar Agencies) share price surged over 1.5%. In the past one-year, Spice Lounge share price has jumped from a single digit of ₹4.60 per share to a double digit of ₹41 per share, surging 789%. As of 10:00 am IST, the stock price has jumped over 7% from day’s low to trade at ₹41 per share.

Spice Lounge Food Works Limited, formerly Shalimar Agencies Limited, has informed stock exchanges about an upcoming Board of Directors meeting. 

Spice Lounge Board Meeting Details and Key Agenda

The Board meeting is scheduled for Thursday, October 23, 2025, at 4:00 PM at the company’s registered office located at 5th Floor, Western Dallas Centre, Survey No. 83/1, Knowledge City, Raidurg, Rangareddy, Madhapur, Hyderabad, Shaikpet, Telangana – 500081.

The meeting will consider proposals for acquisitions of entities or businesses, subject to necessary approvals, along with other business, with the Chair’s permission.

Earlier on August 16, Spice Lounge Food Works Limited announced significant corporate changes, including a change in its company name, an update to its official website, and the scheduling of an upcoming Board Meeting.

Spice Lounge Name Change and Symbol 

In effect from August 8, 2025, the company's name officially changed from "Shalimar Agencies Limited" to "Spice Lounge Food Works Limited". 

Shalimar Agencies, founded in 1981, is involved in dealing with shares, bonds, and other securities. In addition to its trading activities, the company also offers computer and outsourcing services in the information technology sector. These services include handling data, voice, or video collection and processing, as well as operating call centres for various clients. The company has a market capitalisation of over ₹2,900 crore.

Spice Lounge Food Works Q1FY26 Financial Results

The company reported consolidated revenue from operations of ₹32.30 crore in June 2025 compared to ₹34.76 crore in March 2025, reflecting a 7.10% sequential decline. The consolidated net loss, however, narrowed to ₹1.18 crore in June 2025 from ₹3.64 crore in March 2025, indicating an improvement in profitability despite lower revenues.

Spice Lounge Food Works Share Price Jumped Over 1.5% on Friday

With the Indian bourses continuing its up-move on Friday, October 17, 2025, Spice Lounge Food Works share price jumped over 1.5% as the company plans to discuss the acquisition proposal in its upcoming board meeting.