Spice Islands Approves 1:5 Equity Share Split, MOA Alteration

Spice Islands Industries Limited's Board of Directors has approved a sub-division of equity shares, splitting each share of face value Rs. 10 into five shares of Rs. 2 each. This move is subject to shareholder and regulatory approvals. The board also approved consequential alterations to the Memorandum of Association's capital clause. Additionally, the board approved several management changes including re-designation of a director, regularization of independent and non-executive directors, and re-appointment of a director. The board also approved material related party transactions and the incorporation of a joint venture company for functional wellness beverages.