A small-cap penny stock quietly turning into a massive wealth creator doesn’t happen every day. But the rise of Spice Lounge Food Works has become one of those rare market stories—where a stock starts as a low-value penny counter and ends up delivering eye-catching multibagger returns.
This isn’t just another small-cap news headline. It’s a five-year journey of a stock that climbed from ₹1.17 to ₹48, growing 4,000%, even while volatility hit the broader small-cap space.
And that kind of move tends to catch every investor’s attention.
Market Performance: A Penny Stock That Refused to Slow Down
Spice Lounge Food Works, once trading in the low single digits, continued its upward march even during choppy phases in the market.
Short bursts of profit booking did appear, but the broader trend remained intact.
Key Market Highlights
- 1-year gain: From ₹5.32 to ₹48 → up 800%
- 3-year return: 1,151%
- 5-year return: From ₹1.17 to ₹48 → 4,000%
- Market cap (at the recent peak): ₹5,040 crore
- All-time high: ₹72.20
- Correction from peak: 33.51%
Despite the fall from its peak, the stock still trades with what can only be called “massive multibagger gains.”
One standout detail—the company currently has 0% promoter holding, making it fully owned by retail investors.
Main News: A ₹1 Lakh Bet Turning Into ₹41 Lakh
The numbers tell their own story.
A simple investment of ₹1 lakh, made five years ago in this penny stock, would have grown to ₹41 lakh.
Not because of speculation, not because of short-term spikes—but due to a steady climb spread across years, including its recent momentum.
The stock has also been trading on an ex-split basis, following a 1:10 split in March 2025.
(The calculation of returns does not include the benefits of the split.)
Company Details: What Drives Spice Lounge Food Works
Spice Lounge Food Works, earlier known as Shalimar Agencies, was founded in 2019 and has expanded far beyond being just another food services company.
The company now operates across:
- India
- USA
- Canada
It has exclusive franchise rights for well-known global brands—Buffalo Wild Wings, Wingzone, eTouch, and TekSoft.
Alongside that, it also owns four original in-house brands:
- Blaze Kebabs
- Xora
- Salud
- Sunburn Union
The company isn’t limited to food and hospitality alone.
It also offers computer and outsourcing services, covering:
- Data, voice, and video processing
- IT-enabled solutions
- Call center operations
This mix of hospitality, technology, and global franchise partnerships has helped it carve out a unique identity in the small-cap space.
Recent Move: 100% Acquisition of Rightfest Hospitality LLP
In late October, Spice Lounge Food Works acquired Rightfest Hospitality LLP, gaining access to:
- Premium venues
- Live-music events
- A stronger presence in casual dining and tech-enabled food experiences
The acquisition was announced in the company’s October 10 filing, signaling an ambition to tap rising demand across metros and tourist hubs.
Summary: A Penny Stock That Became a Multibagger Story
Spice Lounge Food Works stands out as one of the most talked-about penny stocks, evolving into a multibagger with 4,000% gains in just five years.
With its market cap touching ₹5,040 crore, global expansion, franchise partnerships, diversified operations, and notable corporate actions, the company has created a wealth story rarely seen in the penny stock universe.
For readers tracking small-cap penny stocks, wealth creators, and penny stocks in focus, this is one of the most remarkable journeys in recent years.
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