In continuation to our intimation dated 20th September, 2025, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that ....
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Spice Lounge Food Works Ltd's Board of Directors, at a meeting held on 24th September 2025, approved an Overseas Direct Investment (ODI) of up to USD 5 Million in its Wholly Owned Subsidiary, Teksoft Systems INC, based in the USA. The investment will be made in one or more tranches and complies with the Companies Act, FEMA, RBI, and SEBI regulations. Teksoft Systems INC operates in IT consulting, software development, and technology solutions. The company already holds 100% in the subsidiary, which will continue to remain wholly owned post-investment. The move aims to strengthen the company's global presence and support overseas expansion.
This signals the company's intent to expand its IT/technology footprint in international markets through its US subsidiary, though the scale is modest at USD 5 Million. Shareholders should note this is a capital deployment decision by management toward overseas growth, with no change in ownership structure.