Indef Manufacturing Ltd to Acquire 80% Stake in Daedalus Lift & Access Equipments for Rs. 5.07 Crores

Indef Manufacturing Ltd has executed a Share Purchase Agreement (SPA) with the shareholders of Daedalus Lift & Access Equipments Private Limited for the acquisition of 80% equity shares. The acquisition is in line with the company's strategic objectives and falls within the overall limits approved by the Board of Directors. Daedalus Lift & Access Equipments Private Limited, established in 2017, is focused on the Mobile Elevating Work Platforms and Material Handling sector. The acquisition is expected to complement and enhance Indef's product portfolio and expand its market reach. The cost of acquisition is Rs. 5.07 Crores. The acquisition is not a related party transaction and does not involve any promoter/promoter group interest. The acquisition is subject to governmental or regulatory approvals and is expected to be completed by October 30, 2025.