{"id":39491,"date":"2024-06-28T16:54:16","date_gmt":"2024-06-28T11:24:16","guid":{"rendered":"https:\/\/nationalinsight.in\/index.php\/2024\/06\/28\/uravi-t-and-wedge-lamps-limited-announces-strategic-acquisition-of-majority-stake-in-skl-india-private-limited-by-venturing-into-defence-sector\/"},"modified":"2024-06-28T16:54:16","modified_gmt":"2024-06-28T11:24:16","slug":"uravi-t-and-wedge-lamps-limited-announces-strategic-acquisition-of-majority-stake-in-skl-india-private-limited-by-venturing-into-defence-sector","status":"publish","type":"post","link":"https:\/\/nationalinsight.in\/index.php\/2024\/06\/28\/uravi-t-and-wedge-lamps-limited-announces-strategic-acquisition-of-majority-stake-in-skl-india-private-limited-by-venturing-into-defence-sector\/","title":{"rendered":"Uravi T and Wedge Lamps Limited Announces Strategic Acquisition of Majority Stake in SKL (India) Private Limited by Venturing into Defence Sector"},"content":{"rendered":"<div>\n<div>\n<p><strong>Mumbai (Maharashtra) [India], June 28:<\/strong> Uravi T &amp; Wedge Lamps Limited (NSE Code: URAVI,\u00a0BSE Code: 543930),\u00a0one of the leading manufacturers and supplier of incandescent and wedge -based automotive lamps,\u00a0is pleased to announce its decision to\u00a0acquire up to 55% of the shares of SKL (India) Private Limited\u00a0(\u201cSKL India\u201d) through a secondary acquisition, in one or more tranches. The total consideration for this acquisition is up to\u00a0\u20b9\u00a020.1\u00a0Crores, which will be paid to the existing promoters of SKL India (\u201cthe Sellers\u201d).<\/p>\n<p>In the\u00a0first tranche, the Company will acquire up to\u00a043.91% stake, followed by an\u00a0additional 6.1%\u00a0in the\u00a0second tranche. The remaining stake\u00a0may\u00a0be acquired in subsequent tranches. This strategic move is aimed at strengthening the Company\u2019s market position and expanding its footprint in the industry.<\/p>\n<p>SKL (India) Private Limited is engaged in design and manufacturing of Power Systems, Associated Equipments and Special Purpose\u00a0Defense\u00a0Equipments.\u00a0With\u00a0this strategic acquisition, Uravi will be\u00a0venturing into\u00a0Defense\u00a0Sector. SKL India is an established player in its industry which is available for acquisition at a reasonable valuation.<\/p>\n<p>This acquisition aligns with the Company\u2019s long-term growth strategy and commitment to delivering enhanced value to its stakeholders.<\/p>\n<p>Commenting on the acquisition, Mr. Niraj Gada, Managing Director and CEO said, \u201cI am thrilled to announce Uravi T and Wedge Lamps Limited\u2019s strategic acquisition of a majority stake in SKL (India) Private Limited. This acquisition marks a significant milestone in our growth journey and aligns perfectly with our long-term vision to enhance our market presence and expand our product offerings. By leveraging SKL India\u2019s expertise and capabilities, we aim to drive greater value for our stakeholders and strengthen our competitive edge in the industry. We are committed to seamless integration and look forward to the synergies this partnership will bring.\u201d<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], June 28: Uravi T &amp; Wedge Lamps [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":39492,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1312],"class_list":["post-39491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/nationalinsight.in\/index.php\/wp-json\/wp\/v2\/posts\/39491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalinsight.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalinsight.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalinsight.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalinsight.in\/index.php\/wp-json\/wp\/v2\/comments?post=39491"}],"version-history":[{"count":0,"href":"https:\/\/nationalinsight.in\/index.php\/wp-json\/wp\/v2\/posts\/39491\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalinsight.in\/index.php\/wp-json\/wp\/v2\/media\/39492"}],"wp:attachment":[{"href":"https:\/\/nationalinsight.in\/index.php\/wp-json\/wp\/v2\/media?parent=39491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalinsight.in\/index.php\/wp-json\/wp\/v2\/categories?post=39491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalinsight.in\/index.php\/wp-json\/wp\/v2\/tags?post=39491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}