This stock hits upper circuit as company evaluates buying majority stake in Blackstone Management: Details

Shares of Spice Lounge Food Works hit the upper circuit on Wednesday, October 29, 2025, as the company informed exchanges that it will evaluate the potential acquisition of a majority stake in Blackstone Management. The stock opened gap up with a gain of 3.75 per cent at Rs 49.30 against the previous close of Rs 47.52 on the BSE. It later touched the 5 per cent upper circuit of Rs 49.89 apiece on the BSE. The market cap of the company stood at Rs 3,477 crore. 

The 52-week high of the stock is Rs 50.94, and the 52-week low is Rs 4.83. The counter has been gaining for the last nine days and has risen 24.85 per cent in the period. Technically, the stock trades higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

The stock’s 14-day relative strength index (RSI) is 74.33. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.

Acquisition of Rightfest Hospitality LLP

The company has also approved a proposal to acquire a 100 per cent stake in Rightfest Hospitality LLP. Rightfest Hospitality operates premium lifestyle ventures such as SALUD in Goa and XORA Bar & Kitchen in Hyderabad.

“…announced that its Board of Directors has approved the acquisition of 100% of the shareholding of Rightfest Hospitality LLP (“Rightfest”), marking a strategic expansion in India’s rapidly evolving casual dining, quick-service, and tech-enabled food experience space,” the company said.

Potential acquisition of majority stake in Blackstone Management LLC

The company’s board also authorised chairman Mohan Babu Karjela to evaluate a potential majority stake acquisition in Blackstone Management LLC.

“Mohan Babu Karjela has been empowered to negotiate investment terms and conclude the transaction in consultation with legal, financial, and strategic advisors,” said the company.