Penny Stock Under Rs 35 Signs 90-Day Exclusive LOI with Minor Hotels to Bring India’s First AVANI+ Resort to Pushkar
The stock is up by 60 per cent from its 52-week low of Rs 19.31 per share and has given multibagger returns of 250 per cent in 3 years.
Spectrum Foods Limited (SFL) has announced a significant step in its hospitality venture by signing a 90-day exclusive Letter of Intent with Minor Hotels, a globally recognised operator. This LOI paves the way for a definitive Hotel Management Agreement (HMA) that would see Minor Hotels manage Spectrum Foods' upcoming luxury property, AVANI+ Pushkar Resort & Spa. Notably, this development is poised to introduce India's very first AVANI-branded resort to the serene landscape of Pushkar.
Spectrum Foods' flagship hospitality project is envisioned as an expansive 185-key luxury retreat, thoughtfully designed to offer both contemporary rooms and private villas. Spread across an 8-acre estate, the resort will offer breathtaking views of the sacred Aravalli Hills from every accommodation. The development will unfold in phases, with a targeted Phase I opening of 138 keys slated for August 2025, followed by the remaining keys within the subsequent six months. The 90-day exclusivity period will be dedicated to finalising commercial negotiations between Spectrum Foods and Minor Hotels, culminating in the execution of the HMA upon mutual agreement.
The AVANI+ Pushkar Resort & Spa is designed to offer a comprehensive and luxurious experience. Key features include a diverse range of accommodations, from contemporary rooms to private villas, many boasting private plunge pools and courtyards, all oriented to maximise views of the Aravalli range or lush greenery. Guests can enjoy an all-day restaurant with a show kitchen, an artisanal bakery and café, and a poolside bar with swim-up service. Leisure amenities feature an infinity-edge pool overlooking the hills, a well-equipped AVANIFit Gym, and the award-winning AVANISpa. The resort will also cater to events with a flexible hub, including a ballroom and lawns for weddings and MICE groups, alongside a dedicated Kids Club and family zone.
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About the Company
Spectrum Foods Ltd. services the food industry. The company manufactures and sells spices and industrial salt. Spectrum Foods also participates in share trading activities. The company has a market cap of Rs 74 crore and debtor days have improved from 39.7 to 20.8 days.
The stock is up by 60 per cent from its 52-week low of Rs 19.31 per share and has given multibagger returns of 250 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.