Multibagger stock Spice Lounge Food Works experienced a 5% upper circuit lock on Monday. The stock has been on a bullish trend for more than five sessions following the announcement of its acquisition of complete ownership of Rightfest Hospitality LLP (Rightfest), indicating a strategic growth move in the rapidly changing landscape of casual dining, quick-service, and technology-driven food experiences in India.
This action transcends the mere acquisition of an entertainment venue operator as it demonstrates a calculated horizontal expansion beyond the company’s culinary beginnings into the flourishing experiential lifestyle sector. By utilizing Rightfest’s reputable brand, live music events, and premium venue offerings, the company aims to tap into the increasing demand from wealthy millennials and tourists in metropolitan areas and popular leisure spots.
Through this strategic initiative, Spice Lounge Food Works Limited is set to evolve not just as a food service entity but as a comprehensive lifestyle brand that provides curated experiences encompassing dining, nightlife, and entertainment, while unlocking greater growth and asset-light revenue prospects.
“The acquisition of Rightfest Hospitality LLP marks a defining milestone in our journey to build a multiformat, experience-led food and hospitality company. Rightfest has consistently demonstrated creativity and excellence in curating destinations that go beyond dining — delivering lifestyle experiences that deeply connect with today’s aspirational Indian audience,” said Mohan Babu Karjela, Chairperson and Director of Spice Lounge Food Works Ltd.
Potential acquisition of majority stake in Blackstone Management LLC
The board has authorized Mr. Mohan Babu Karjela, Chairman and Director, to assess, review, and make informed decisions on behalf of the company regarding the potential acquisition of a majority share in Blackstone Management LLC. Mr. Mohan Babu Karjela has been granted the authority to negotiate investment terms and finalize the deal in collaboration with legal, financial, and strategic advisors.
Spice Lounge Food Works share price today
Spice Lounge Food Works share price today opened at an intraday high of ₹57.73 per share on the BSE; the stock touched an intraday low of ₹57 per share.
The hospitality stock in the past week has risen 29.91%. Stock has been up 44.79% in the past quarter and rose 1085.3% in the past year.
Spice Lounge Food Works specializes in delivering a comprehensive array of IT services and solutions, as well as offering outsourcing services for all processes, sub-processes, transactions, activities, and other operational work conducted by businesses in various sectors both within India and globally. This encompasses processes or sub-processes that utilize information technology.
Company Details
Spice Lounge Food Works specializes in delivering a comprehensive array of IT services and solutions, as well as offering outsourcing services for all processes, sub-processes, transactions, activities, and other operational work conducted by businesses in various sectors both within India and globally. This encompasses processes or sub-processes that utilize information technology.
Additionally, it involves the collection and processing of data, voice, or video, along with call center services that include both inbound and outbound calling of all varieties, technical support, managed data centers, managed technical centers, training centers, web support, back office operations, business or financial analysis, scientific analysis, research and evaluation, data storage, disaster recovery, accounting, payroll, inventory management, customer relationship management, enterprise resource planning, as well as the development of software, consultancy, software solutions, and services typically provided by outsourcing firms and IT service providers, software development companies, and application service providers both in India and abroad.
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