In compliance with the disclosure requirements under Regulation 30 of the SEBI Listing Regulations, as amended by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, ....
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Spice Islands Industries Ltd (formerly Spice Islands Apparels Ltd) has entered into an 11-month rent agreement on September 8, 2025, to lease the hotel property 'Hotel Somprabha' located in Veraval, District Gir Somnath, Gujarat. The leased premises cover 1840.90 sq. mtrs. of non-agricultural land with a commercial hotel building (sub-plot of 178.27 sq. mtrs.), taken from Hotel Somprabha – Partnership Firm. The lease period runs from November 1, 2025 to October 1, 2026. The company will use the property for its hospitality business, citing high tourism potential and rising tourist inflow in the region. The company confirmed the transaction is not a related-party deal.
This marks the company's move into the hospitality sector in a tourism-favored location (near Gir Somnath, Gujarat), suggesting a potential diversification from its apparels legacy. The short 11-month tenure indicates a cautious, pilot-style entry rather than long-term commitment, so investors should watch for revenue traction and any lease renewal or expansion announcements in 2026.