Indef Manufacturing's board has approved a strategic acquisition, taking an 80% equity stake in Daedalus Lift & Access Equipments for Rs. 5.07 crore.

This move expands Indef's product portfolio into Mobile Elevating Work Platforms (MEWP) and Material Handling.

Daedalus reported a FY25 turnover of Rs. 6.71 crore and a net loss of Rs. 1.90 crore.

The acquisition positions Daedalus as an Indef subsidiary, enhancing market reach in specialized equipment.