Indef Manufacturing surges on completing acquisition of 80% stake in Daedalus Lift & Access Equipments
Indef Manufacturing is currently trading at Rs. 355.95, up by 5.05 points or 1.44% from its previous closing of Rs. 350.90 on the BSE.
The scrip opened at Rs. 351.10 and has touched a high and low of Rs. 357.50 and Rs. 349.40 respectively. So far 1132 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 580.85 on 04-Jul-2025 and a 52 week low of Rs. 202.05 on 09-May-2025.
Last one week high and low of the scrip stood at Rs. 374.00 and Rs. 349.40 respectively. The current market cap of the company is Rs. 1133.44 crore.
The promoters holding in the company stood at 69.61%, while Institutions and Non-Institutions held 1.59% and 28.80% respectively.
Indef Manufacturing has completed the acquisition of 16,00,229 equity shares of Rs 31.73 each, representing 80% of the issued and paid-up share capital of Daedalus Lift & Access Equipments (Target Company) for a total consideration of Rs 5.08 crore out of which Rs 30 lakh has been kept as retention money to cover any potential claims or liabilities as per the Share Purchase Agreement which will be released upon completion of 1 year from the closing date. Pursuant to acquisition of shares, the Target Company has become a subsidiary of the company.
The acquisition aligns with the company’s strategic objective to strengthen its presence in the material handling and access equipment segment. It is expected to complement and enhance its product portfolio and expand its market reach. The target entity operates in a business broadly aligned with the company’s core activities.
Indef Manufacturing focuses exclusively on manufacturing operations, ensuring that the legacy of the Bajaj Indef brand continues to grow. Bajaj Indef brand has been a leader in manufacturing hoists, cranes, and lifting solutions, known for its commitment to quality and sustainability.
