Spice Lounge Food Works Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/09/2025 ,inter alia, to consider and approve Pursuant to Regulation ....
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Spice Lounge Food Works Ltd (formerly Shalimar Agencies Limited) has informed stock exchanges that its Board of Directors will meet on 24 September 2025 at 3:30 PM. The main item on the agenda is to consider and approve an Overseas Direct Investment (ODI) of up to USD 5 million (approximately ₹42 crore) in its Wholly Owned Subsidiary, Teksoft Systems INC, based in the United States. The investment will be made in one or more tranches and will comply with the Companies Act 2013, FEMA, RBI, and SEBI rules. Further details will be disclosed after the board meeting concludes.
If approved, this signals a planned capital infusion into the company's US subsidiary, suggesting management is looking to expand or strengthen its overseas operations. Shareholders should watch the outcome on 24 September for confirmation, funding source, and any strategic details about the subsidiary's role.