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Introduction: Engineering a New Era in Material Handling
In a strategic move that underscores India’s industrial ambitions, Bajaj Indef has acquired an 80% equity stake in Daedalus Lift & Access Equipments Pvt. Ltd., a Pune-based startup specializing in Aerial Work Platforms (AWPs) and Mobile Elevating Work Platforms (MEWPs). Announced on August 2, 2025, this acquisition is a cornerstone of Bajaj Indef’s Vision 500 roadmap, aimed at transforming the company into a ₹500 crore enterprise while reinforcing its leadership in indigenous manufacturing.
Key Highlights from the Acquisition Announcement
- Bajaj Indef acquires 80% stake in Daedalus, a homegrown access equipment innovator
- Daedalus becomes a subsidiary, expanding Bajaj Indef’s product portfolio
- Acquisition aligns with Vision 500, Bajaj Indef’s growth blueprint
- Customers and channel partners to benefit from enhanced service and product range
- Daedalus continues operations from its Chakan, Pune facility
Daedalus: Innovation Rooted in Indian Soil
Origins and Mission
- Founded in 2017 by four engineering graduates, Daedalus set out to disrupt a market dominated by imports
- The company’s name pays homage to the legendary Greek inventor, symbolizing ingenuity and precision
- Daedalus has developed a full suite of AWPs and MEWPs, including scissor lifts, boom lifts, and vertical mast lifts
Manufacturing Excellence
- All products are designed and built in India, with a focus on compactness, safety, and reliability
- The Chakan facility serves as a hub for innovation and scalable production
- Daedalus has earned a reputation for delivering world-class solutions tailored to Indian conditions
Strategic Synergy: What the Partnership Unlocks
- Bajaj Indef brings over 60 years of legacy in hoisting and material handling
- The acquisition enables a unified product basket across cranes, hoists, and access platforms
- Customers gain access to faster service, broader solutions, and deeper technical support
- Channel partners can cross-sell and expand reach with Bajaj Indef’s financial and distribution muscle
- The partnership is expected to accelerate Daedalus’s growth and market penetration
Vision 500: A Roadmap to Scale and Impact
- Bajaj Indef’s Vision 500 aims to scale the company to ₹500 crore in revenue
- The Daedalus acquisition is a key milestone, marking entry into high-growth industrial segments
- The move reflects a commitment to self-reliance and innovation under the ‘Make in India’ initiative
- Bajaj Indef plans to integrate Daedalus’s products into its national and global distribution networks
Leadership Commentary and Market Response
- Amit Bhalla, Managing Director of Bajaj Indef, praised Daedalus for its India-based supply chain and disruptive potential
- He emphasized the company’s role in challenging global brands and serving core sectors like manufacturing and warehousing
- Market analysts view the acquisition as a strategic boost to Bajaj Indef’s competitiveness and innovation pipeline
- Indef shares surged nearly 5% following the announcement, signaling investor confidence in the deal
Conclusion: A New Chapter in Indian Industrial Innovation
The acquisition of Daedalus by Bajaj Indef is more than a business transaction—it’s a statement of intent. By investing in indigenous innovation and expanding its capabilities, Bajaj Indef is positioning itself as a torchbearer of India’s manufacturing renaissance. As Daedalus scales new heights under this partnership, the industry watches with anticipation for what comes next.
Source: Business Standard
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