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Indef Manufacturing Limited — M&A Activity 2025
Sep 9, 2025
59797_rns_2025-09-09_596d6285-25a0-4760-8e6a-89b310a1530e.pdf
M&A Activity
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Date: September 09, 2025
To, To, BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Phiroze Exchange Plaza, Plot No. C/1, Block G, Bandra - Jeejeebhoy Towers, 25[th] Floor, Dalal Street, Fort, Kurla Complex Bandra (East), Mumbai – Mumbai - 400 001 400 051 Scrip Code: 544364 Symbol: BAJAJINDEF
Sub: Update on acquisition of 80% equity shares in Daedalus Lift & Access Equipments Private Limited ("Daedalus").
Dear Sir/Madam,
Further to our letter dated August 01, 2025, intimating about Execution of Share Purchase Agreement, we are pleased to inform you that Indef Manufacturing Limited (“Company”) has completed the acquisition of 1600229 equity shares of Rs. 31.73/- each, representing 80% (Eighty Percent) of the issued and paid-up share capital of the Target Company for a total consideration of Rs. 5,07,80,042 only (Rupees Five Crore Seven Lakh Eighty Thousand Forty-Two Rupees only) out of which Rs. 30,00,000/(Rupees Thirty Lakhs Only) 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 of the Target Company (as detailed above), the Target Company has become a subsidiary of the Company as per the Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.
Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 are enclosed as Annexure A.
We request you to kindly take the above on record.
Thanking you,
For Indef Manufacturing Limited
Digitally signed by THAZHUMPAL THAZHUMPAL VINEESH VIJAYAN VINEESH VIJAYAN Date: 2025.09.09 18:52:52 +05'30'
Vineesh Vijayan Thazhumpal Company Secretary A63683
Company: INDEF MANUFACTURING LIMITED (Resulting company from demerged Hercules Hoists Limited) T : +91 22 45417301 | F: +91 2192 274125 | E: [email protected] U: www.indef.com Corporate Office: 501-504, Shelton Cubix, Sector 15, Plot 87, CBD Belapur, Navi Mumbai 400614, INDIA Works: Khalapur, Chakan | Regional Offices: Pune, Delhi, Chennai, Kolkata Registered Office: Bajaj Bhawan, 2nd Floor, 226, Jamnalal Bajaj Marg, Mumbai 400 021, INDIA CIN: L29308MH2022PLC390286
Annexure A
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Disclosure of Information pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015
| Sr. No. | Particulars | Details |
|---|---|---|
| a) | Name of the target entity, size, turnover, etc. |
Daedalus Lift & Access Equipments Private Limited Authorized Capital: Rs. 2,05,00,000 Paid-up Capital: Rs. 2,00,02,860 Turnover: 6.71 Crores (F.Y. 2024-25) Profit After Tax:(1.90)Crores(F.Y. 2024-25) |
| b) | whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” |
No The acquisition would not fall within related party transactions. The Promoter / Promoter Group / group companies do not have any interest in the entity being acquired. |
| c) | Industry to which the entity beingacquired belongs |
Mobile Elevating Work Platforms (MEWP) and Material Handling. |
| d) | Object and impact of acquisition |
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. |
| e) | Brief details of any governmental or regulatory approvals required for the acquisition |
Not applicable |
| f) | Indicative time period for completion of the acquisition; |
September 09, 2025 |
| g) | Consideration (whether cash consideration or share swap or any other form and details of the same) |
Cash Consideration |
| h) | Cost of acquisition and/or the price at which the shares are acquired. |
Cost of acquisition is Rs. 5,07,80,042/- |
| i) | Percentage of shareholding / control acquired and / or number of shares acquired. |
Percentage of Shareholding: 80% Number of Shares Acquired: 1600229 |
Company: INDEF MANUFACTURING LIMITED (Resulting company from demerged Hercules Hoists Limited) T : +91 22 45417301 | F: +91 2192 274125 | E: [email protected] U: www.indef.com Corporate Office: 501-504, Shelton Cubix, Sector 15, Plot 87, CBD Belapur, Navi Mumbai 400614, INDIA Works: Khalapur, Chakan | Regional Offices: Pune, Delhi, Chennai, Kolkata Registered Office: Bajaj Bhawan, 2nd Floor, 226, Jamnalal Bajaj Marg, Mumbai 400 021, INDIA CIN: L29308MH2022PLC390286
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| j) | Background of the entity | Daedalus Lift & Access Equipments Private Limited, established on April 21, 2017, is a Private Limited Company having its registered office in Pune, India. It is focused on the Mobile Elevating Work Platforms and Material Handling sector. Year Turnover(Rs. in Crore) F.Y. 2024-25 6.71 F.Y. 2023-24 4.96 F.Y. 2022-23 2.78 Country in which the entity to be acquired has presence: India |
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|---|---|---|---|
Company: INDEF MANUFACTURING LIMITED (Resulting company from demerged Hercules Hoists Limited) T : +91 22 45417301 | F: +91 2192 274125 | E: [email protected] U: www.indef.com Corporate Office: 501-504, Shelton Cubix, Sector 15, Plot 87, CBD Belapur, Navi Mumbai 400614, INDIA Works: Khalapur, Chakan | Regional Offices: Pune, Delhi, Chennai, Kolkata Registered Office: Bajaj Bhawan, 2nd Floor, 226, Jamnalal Bajaj Marg, Mumbai 400 021, INDIA CIN: L29308MH2022PLC390286