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
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Indef Manufacturing Limited's Board, at its meeting on July 30, 2025, approved the acquisition of 80% equity shares in Daedalus Lift & Access Equipments Private Limited for a cash consideration of Rs. 5.07 crores. Daedalus operates in the Mobile Elevating Work Platforms (MEWP) and Material Handling space, with FY25 turnover of Rs. 6.71 crores but a loss (PAT) of Rs. 1.90 crores. The acquisition is not a related party transaction and is being done at arm's length, with a Share Purchase Agreement to be executed. Post-acquisition, Daedalus will become a subsidiary of Indef, expected to be completed by October 30, 2025. The company described this as a strategic move to broaden its product portfolio.
The deal expands Indef's product range into MEWP and material handling, but the small scale (target turnover of Rs. 6.71 cr) and current losses mean limited immediate earnings impact. Investors should watch for subsidiary consolidation benefits, integration costs, and any future open offer obligation triggered by crossing the 80% threshold.