Intimation under Regulation 30 of the SEBI (LODR) 2015 - Execution of the Joint Venture Agreement with the Peace Mission Private Limited
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Spice Islands Industries Ltd has signed a joint venture agreement with Peace Mission Private Limited to develop, manufacture, brand, market, and distribute functional wellness beverages under the brand name 'PEACE ROGERS'. Spice Islands will hold a 60% stake in the venture, while Peace Mission will hold the remaining 40%. The initial product will be a 210ml fortified wellness drink containing Vitamin C, D3, B12, Spirulina, and ORS. Peace Mission is represented by Dr. Huzaifa Habil Khorakiwala, from the promoter family of Wockhardt Limited, a major pharmaceutical and biotechnology company. A 6-member Joint Management Committee (3 from each side) will oversee strategic decisions, with key matters needing unanimous approval from both parties.
This move marks Spice Islands' entry into the fast-growing functional wellness beverage segment and gives it a credible partner with strong pharma industry pedigree, which could boost investor interest and support the stock price in the near term. Shareholders should watch for updates on product launch timelines, regulatory approvals, and the financial impact once operations begin.