Uravi Defence and Technology Limited informs the stock exchange that Bharat Technology Limited, wholly owned subsidiary of company has entered into Share Purchase Agreement to acquire 100 % of Spafax International Holdings Limited.
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Uravi Defence and Technology Limited announced that its wholly-owned subsidiary, Bharat Technology Limited, has signed a Share Purchase Agreement to acquire 100% of UK-based Spafax International Holdings Limited. The deal is valued at approximately £3,418,000 (around Rs. 36-37 Crores) and will be paid in cash across multiple tranches, with a majority stake targeted by 2026. Spafax specializes in unbreakable vehicle mirrors, advanced lighting systems, audio warning tech, and explosion-proof camera systems serving defense, agriculture, and commercial vehicle sectors, with its subsidiary posting turnover of Rs. 29 Crores in FY25, up from £14 Lakh in FY22. The acquisition aims to expand Uravi's footprint in UK and EU defense markets and leverage Spafax's patented mirror technology. No government approvals are required and the transaction is not a related-party deal.
This is a strategic, tuck-in acquisition that strengthens Uravi's defense product portfolio and gives it a UK/EU foothold, but the deal size is relatively small compared to the target's turnover (~1.2x revenue multiple), so the immediate financial impact may be modest. Shareholders should watch for tranche completions, integration updates, and whether this opens further defense contracts overseas.