Pursuant to Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations 2015, please find enclosed Form C dated December 12, 2025, received from Mr. ....
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Mr. Girish Keshavji Chheda, immediate relative of the company's CEO (a Key Managerial Personnel), has acquired 44,444 equity shares of Spice Islands Industries Ltd through conversion of convertible warrants. The allotment took place on December 1, 2025, at a total value of Rs. 14,99,985 (roughly Rs. 33.75 per share). Before this acquisition, he held no shares in the company, so his post-acquisition holding stands at 44,444 equity shares. The disclosure was filed under SEBI's Prohibition of Insider Trading Regulations as a continual disclosure by an immediate relative of a KMP.
This reflects insider confidence in the company, as a relative of the CEO is choosing to convert warrants into actual equity. However, the transaction size is small and the share count increase will cause some dilution for existing shareholders.