Uravi Defence and Technology Limited has informed the Exchange regarding a press release dated Jun 25, 2025, titled "Uravi Defence & Technology Ltd Acquired Stake in UK Based SPAFAX International Holdings/ SPAFAX International Ltd, Strengthening Global Strategic Position.".
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Uravi Defence & Technology Ltd announced plans to acquire 100% equity stake in UK-based SPAFAX International Ltd through its wholly-owned subsidiary Bharat Technology Ltd. SPAFAX, founded in 1938, manufactures unbreakable vehicle mirrors, lighting systems, and IP69K-rated wireless camera systems for defence armoured vehicles, commercial trucks, and motorsports, with clients including the British Army, NATO, EU, and global defence organisations. SPAFAX reported approximately ₹29 crore in revenue and ₹5 crore in profit in FY25. The acquisition will be executed in multiple tranches, with majority stake targeted for 2026. The deal grants Uravi direct access to EU and US defence supply chains via SPAFAX's existing NATO and US Defence certifications, and aligns with the recently signed India-UK FTA. Group entity SKL India (in which Uravi holds 50.01% since Feb 2025) is expected to benefit from technology and market access.
This acquisition could meaningfully expand Uravi's scale and global footprint, with SPAFAX's ₹29 Cr revenue nearly 65% of Uravi's FY25 consolidated revenue of ₹44.60 Cr. Near-term impact may be limited due to the phased acquisition structure, but the deal opens high-margin defence and export opportunities and could re-rate the stock if execution proceeds as planned.