Spice Lounge Food Works: Outgoing Promoters Reclassified to Public

Spice Lounge Food Works Limited (formerly Shalimar Agencies Limited) announced the formal reclassification of its outgoing promoter group to the 'Public' category. This follows the successful conclusion of an open offer on November 8, 2024, by Acquirers Spice Lounge LLP, Mohan Babu Karjela, and Venugopal Naidu Kongarla Venkatesh, along with PACs. The open offer, for 11,33,262 equity shares (100% of existing public shareholding), resulted in the transfer of management and control to the Acquirers, who are now the new Promoters. The reclassification of the outgoing promoter, IT Trailblazers Resources Private Limited, which holds no shares, complies with Regulation 31A(10) of SEBI LODR Regulations and other specified conditions. The company also confirmed compliance with minimum public shareholding norms.