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Uravi T and Wedge Lamps Limited Announces Strategic Acquisition of Majority Stake in SKL (India) Private Limited by Venturing into Defence Sector
Mumbai (Maharashtra) [India], June 28: Uravi T & Wedge Lamps Limited (NSE Code: URAVI, BSE Code: 543930), one of the leading manufacturers and supplier of incandescent and wedge -based automotive lamps, is pleased to announce its decision to acquire up to 55% of the shares of SKL (India) Private Limited (“SKL India”) through a secondary acquisition, in one or more [...]
Mumbai (Maharashtra) [India], June 28: Uravi T & Wedge Lamps Limited (NSE Code: URAVI, BSE Code: 543930), one of the leading manufacturers and supplier of incandescent and wedge -based automotive lamps, is pleased to announce its decision to acquire up to 55% of the shares of SKL (India) Private Limited (“SKL India”) through a secondary acquisition, in one or more tranches. The total consideration for this acquisition is up to ₹ 20.1 Crores, which will be paid to the existing promoters of SKL India (“the Sellers”).
In the first tranche, the Company will acquire up to 43.91% stake, followed by an additional 6.1% in the second tranche. The remaining stake may be acquired in subsequent tranches. This strategic move is aimed at strengthening the Company’s market position and expanding its footprint in the industry.
