Shares of Spice Lounge Food Works surged nearly 5 per cent in today's trade to hit the upper circuit of 52.99 on the BSE. The stock started the trading session in green at Rs 52.80 against the previous close of Rs 50.47. The market cap of the company stood at Rs 3,694.05 crore. Amid a spurt in trading volume, the stock surged further to touch the high of Rs 52.99. Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 4 (ST ASM-4) framework. The rally in the stock is driven by a major update released just before market hours.
Acquires exclusive master franchise rights
The company has announced in an exchange filing today that it has acquired the exclusive master franchise rights for the international QSR brand Wing Zone. The company, which operates brands such as Buffalo Wild Wings, Wing Zone, Blaze Kebabs, Tortilla, and its tech subsidiary, TekSoft Systems Inc., with over 500 employees and over 75 years of combined hospitality experience, will now oversee Wing Zone's development, operations, and nationwide expansion in India.
According to the exchange filing, the company will launch India's first Wing Zone outlet in Koramangala, Bengaluru, in January 2026. Koramangala is known for its young clientele, high footfall, and a strong QSR market, making it the chosen launch location.
The company will subsequently expand to Bengaluru, Hyderabad, and Chennai, with plans to expand to other major cities through a multi-level strategy. This acquisition is part of the company's efforts to strengthen its position in the rapidly growing Indian QSR sector and build a multi-brand food service portfolio.
Share price history
The stock has yielded a positive return of 4429 per cent in five years and 1279 per cent in three years. On a year-to-date basis, the stock has surged 454.29 per cent. However, the counter has corrected 19.14 per cent in two weeks, as against the dip of 0.56 per cent in the benchmark index.
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