Recently, the company had informed in its exchange filing that its board of directors has approved the purchase of 100 percent stake in Singapore-based Prisha Infotech.
Amid a decline in the stock market on Wednesday, shares of Spice Lounge Food Works Ltd., a multi-format food service company, hit upper circuit. This stock has delivered multi-bagger returns of 162% to investors over the past year. The stock rose 5% to close at ₹34.56 on the BSE today. The stock opened for trading at ₹31.28. The company has a market cap of ₹2,409.26 crore. According to BSE data, 17,447 equity shares of the company were traded as of 10:19 am.
According to BSE Analytics, the stock has lost more than 14% in the past week and more than 34% in the past month. Over the past six months, the stock has returned 2%.
On a yearly basis, the stock has doubled investors’ money in the last year, delivering a return of 162 per cent. It has gained over 614 per cent in the last two years and over 2853 per cent in the last five years.
The company recently made a major acquisition
Recently, the company had informed in its exchange filing that its board of directors has approved the purchase of 100 percent stake in Singapore-based Prisha Infotech.
The company stated that the acquisition is expected to be completed within 12 months. The acquisition will be made for US$150,000. According to exchange filings, the company is expanding its focus on technology-based solutions in the food service and hospitality sectors, in line with its long-term strategy of expansion, diversification, and global presence.
The company said that the addition of Prisha Infotech’s software development and programming capabilities will strengthen Spice Lounge’s digital base and facilitate access to international markets through Singapore.
Prisha Infotech specialises in enterprise software, digital platforms, and tech solutions for customer-facing businesses, improving operational efficiency, customer engagement, and data-driven decisions.
In the filing, the company said the acquisition will drive innovation in supply chain management, point-of-sale systems, customer experience platforms and analytics-based operations.
