Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Spice Lounge Food Works has called an EGM on 28 June 2025 (via video conference at 4:00 PM) to seek shareholder approval for three key items. First, it wants to raise its overall borrowing limit to Rs. 1,000 crore (split into Rs. 500 crore fund-based and Rs. 500 crore non-fund-based limits) under Section 180(1)(c) of the Companies Act. Second, it seeks approval to create charges, mortgages, or hypothecation on the company's movable and immovable assets (including future assets) to secure these borrowings under Section 180(1)(a). Third, the company proposes to raise up to USD 50 million through the issuance of eligible securities, including Foreign Currency Convertible Bonds (FCCBs), via private placement, preferential issue, or public offerings in international markets, to fund strategic acquisitions, working capital needs, and business expansion.
For shareholders, this EGM is significant because approval of these resolutions gives the board wide latitude to take on substantial new debt (up to Rs. 1,000 crore) and dilute equity through FCCBs or other securities (up to USD 50 million). Existing investors may face future equity dilution if FCCBs are converted, and the company's leverage is set to increase materially, which could affect future earnings per share and debt servicing capacity.