Indef Manufacturing Limited has informed the Exchange regarding 'Regulation 30 read with Para A of Part A of Schedule III of SEBI (LODR) Regulations, 2015 The Board of Directors of the Company, at its meeting held today, approved an investment of Rs. 5.07 crores through the acquisition of 80% equity shares in Daedalus Lift & Access Equipments Private Limited.'.
BAJAJINDEF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indef Manufacturing Limited's Board has approved acquiring 80% equity in Daedalus Lift & Access Equipments Private Limited for Rs. 5.07 crores in cash, making it a subsidiary. Daedalus operates in Mobile Elevating Work Platforms (MEWP) and Material Handling, with FY25 turnover of Rs. 6.71 crores but a loss of Rs. 1.90 crores. The target has shown strong revenue growth, rising from Rs. 2.78 crores in FY23 to Rs. 6.71 crores in FY25. The deal is expected to close by October 30, 2025, is not a related party transaction, and requires no regulatory approvals. The acquisition is described as strategic, aimed at widening Indef's product portfolio.
For shareholders, this is a small but strategic move into a growing segment adjacent to Indef's core hoisting/material handling business. The target is loss-making at the net level but growing fast on revenue, so near-term earnings dilution is possible while long-term portfolio diversification benefits could materialise once synergies emerge.