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

Indef Manufacturing Limited has approved an investment of Rs. 5.07 crores through the acquisition of 80% stake in Daedalus Lift & Access Equipments Private Limited. Daedalus, established in 2017, is focused on the Mobile Elevating Work Platforms and Material Handling sector. The acquisition is expected to widen Indef Manufacturing's product portfolio. Daedalus will become a subsidiary of Indef Manufacturing Limited post-acquisition. The acquisition is subject to certain conditions precedent and the fulfillment of regulatory requirements.