BAJAJINDEF: Indef Manufacturing Limited has executed Share Purchase Agreement today i.e. August 01, 2025 for acquisition of 80% equity shares in Daedalus Lift & Access Equipments Private Limited
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Indef Manufacturing Limited (BAJAJINDEF) has signed a Share Purchase Agreement to acquire 80% equity stake in Daedalus Lift & Access Equipments Private Limited, a Pune-based company in the Mobile Elevating Work Platforms (MEWP) and Material Handling space. The deal is entirely in cash and will cost Rs. 5.07 Crores, with completion targeted by October 30, 2025. Daedalus reported a turnover of Rs. 6.71 Crores in FY25 but posted a loss of Rs. 1.90 Crores. The acquisition is not a related party transaction and aims to strengthen Indef's presence in the material handling and access equipment segment by expanding its product portfolio and market reach.
This is a small bolt-on acquisition (deal size roughly 0.75x Daedalus's FY25 turnover) intended to diversify and deepen Indef's offerings in MEWP and material handling. Near-term impact is limited given the target's small size and losses, but it signals strategic expansion in a core-adjacent segment which could support longer-term growth.