Spice Lounge Food Works Ltd (SLFWL) will be in focus after its board approved a strategic foray into luxury hospitality with the acquisition of Rightfest Hospitality LLP and plans to evaluate a majority stake in Blackstone Management LLC.
The company’s board met on October 28, approving the 100% acquisition of Rightfest Hospitality, which operates premium lifestyle venues such as SALUD, Goa, and XORA Bar & Kitchen, Hyderabad. The transaction is expected to close within 12 months.
“This acquisition marks our expansion beyond culinary excellence into the premium nightlife and experiential entertainment domain,” said Spice Lounge Food Works, adding that it aims to tap into the rapidly growing high-end leisure market across metros and tourist hubs.
Chairman Mohan Babu Karjela has been authorised to oversee both transactions, including the evaluation of a potential majority stake in Blackstone Management LLC.
The multibagger stock continued its rally, closing 5% higher at INR 47.52 on Tuesday, extending its 400% YTD gainand reflecting strong investor confidence in SLFWL’s growth strategy.
