Intimation regarding amendment to the Memorandum of Association of the Company, as duly approved by the Shareholder on November 12, 2025
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Spice Islands Industries Ltd (formerly Spice Islands Apparels Limited) has amended its Memorandum of Association after shareholders approved the change via postal ballot (e-voting) on November 12, 2025. The company is adding four new business segments to its scope: Food and Beverages (processed foods, bakery items, soft drinks, packaged water, etc.), Hospitality (real estate, construction, hotels), Electric Vehicles (leasing and rental of EVs and vehicles), and Edible Oil (manufacturing, refining, and trading of various edible oils). This is a major shift from its earlier identity as an apparel company to a diversified multi-sector business. The amendment was passed as a special resolution, meaning more than 75% of voting shareholders supported it.
This broad diversification signals a strategic transformation of the company into a multi-segment business spanning FMCG, hospitality, EVs, and edible oils. For shareholders, this expands the company's future growth avenues but also raises questions about execution capability and capital allocation across such varied businesses. Watch for further announcements on actual operations or investments in these new segments.