Uravi Defence and Technology Limited has announced a strategic acquisition by its wholly owned subsidiary, with Bharat Technology Limited acquiring a 10% stake in Spafax International Holdings Limited. The company formally notified the stock exchanges on March 25, 2026, regarding this corporate development.

Acquisition Details

The transaction involves Bharat Technology Limited, a wholly owned subsidiary of Uravi Defence and Technology Limited, acquiring equity shares in Spafax International Holdings Limited. The acquisition represents a significant investment move by the defence technology company through its subsidiary structure.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was submitted to both the National Stock Exchange of India Limited and BSE Limited, ensuring compliance with listing regulations and Schedule III requirements.

Corporate Structure

Uravi Defence and Technology Limited, formerly known as Uravi T and Wedge Lamps Limited, operates through various subsidiary entities. Bharat Technology Limited serves as a wholly owned subsidiary, enabling the parent company to pursue strategic investments and business expansion opportunities across different sectors.

The acquisition notification was signed by Kaushik Damji Gada, Whole-time Director and CFO of Uravi Defence and Technology Limited, confirming the official nature of this corporate transaction and the company's commitment to transparent disclosure practices.

Uravi Defence and Technology Limited has successfully completed the divestment of its 50.01% shareholding in SKL India Private Limited, following shareholder approval at the Extra Ordinary General Meeting held on March 02, 2026. The company disclosed the completion of this strategic transaction through regulatory filings submitted to NSE and BSE on March 05, 2026.

EGM Voting Results Overview

The EGM addressed three significant resolutions, all of which received strong shareholder support. The company's total shareholding of 11400000 shares was distributed between promoter and promoter group holdings of 6178160 shares and public non-institutional holdings of 5221840 shares.

Divestment Transaction Completion

Following the EGM approval, the company has transferred its 50.01% shareholding in SKL India Private Limited to Mr. Krishna Kumar Bhatia, Managing Director of SKL, and Mrs. Bhavna Bhatia, Director of SKL. This transaction represents a significant strategic move in the company's portfolio optimization efforts.

Board Changes at SKL India

Consequent to the divestment transaction, significant changes have occurred in SKL India's board composition. Mr. Niraj Gada, Promoter and Director of SKL, and Mr. Niken Shah, Independent Director of SKL, have resigned from the Board of SKL with effect from March 02, 2026. These resignations align with the change in ownership structure following the divestment.

Statutory Auditor Appointment

Shareholders unanimously approved the appointment of M/S Viren Gandhi & Co, Chartered Accountants as statutory auditors to fill the casual vacancy caused by the resignation of M/s GBCA & Associates LLP. The appointment will remain effective until the ensuing Annual General Meeting.

Regulatory Compliance and Disclosure

The company has maintained full compliance with regulatory requirements under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The disclosure regarding the completion of divestment has been filed with both NSE and BSE, with detailed information available on the company's website at www.uravilamps.com . CS Dharendra Maurya of D Maurya and Associates served as the scrutinizer for the electronic voting process, confirming that all resolutions were passed with requisite majority.