Outcome of the Board Meeting under Regulation 30 of the SEBI (LODR) 2015 - Execution of Joint Venture Agreement with the Peace Mission Private Limited
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Spice Islands Industries' board approved a joint venture with The Peace Mission Private Limited on June 5, 2026, to launch a functional wellness beverage brand called 'PEACE ROGERS'. Under the 60:40 structure, Spice Islands will hold the majority 60% stake and bear majority funding, while Peace Mission holds 40%. The JV will be managed by a 6-member Joint Management Committee (3 nominees from each side), with key strategic decisions requiring unanimous approval. The initial product is a 210 ml 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 company, lending credibility to the venture.
This marks Spice Islands' entry into the high-growth functional wellness beverage segment, backed by a partner linked to the reputed Wockhardt promoter family. The collaboration could be a positive catalyst for the stock, though actual revenue impact will depend on successful product launch, regulatory approvals, and market traction in subsequent quarters.