Bajaj Indef Acquires 80% Stake in Daedalus to Strengthen ‘Make in India’ Leadership

Industry:    4 months ago

Bajaj Indef, a trusted leader in the material handling solutions space, has announced the acquisition of an 80% equity stake in Daedalus Lift & Access Equipments Pvt. Ltd., a pioneering manufacturer of Aerial Work Platforms (AWPs) and Mobile Elevating Work Platforms (MEWPs). This strategic move aligns with Bajaj Indef’s ambitious Vision 500 growth roadmap and expands its portfolio into the fast-growing access equipment segment.

The Daedalus Story: Built by Passion, Powered by Innovation

Founded in 2017 by four engineering graduates driven by a shared passion for technology and innovation, Daedalus set out to transform India’s access equipment landscape. In a market largely dominated by imported products, the team envisioned building world-class, Made-in-India solutions.

From their manufacturing facility in Chakan, Pune, Daedalus has built a full range of indigenous AWPs and MEWPs including self-propelled and manual scissor lifts, vertical mast lifts, and boom lifts. Their focus on compact design, safety, and reliability has made them one of India’s most admired homegrown brands in this niche segment.

The Name that Embodies Ingenuity

The company’s name draws inspiration from Daedalus, the legendary inventor from Greek mythology known for his ingenuity and craftsmanship. Like its namesake, Daedalus the company has built products that reflect precision engineering and breakthrough thinking–bringing Indian innovation to the forefront.

Unlocking Synergy for Customers and Channel Partners

With Bajaj Indef’s legacy of 60+ years, robust design and manufacturing, pan-India distribution network, and robust after-sales infrastructure, the acquisition creates a powerful synergy. Customers will now benefit from:

– A broader product portfolio across hoists, cranes, and access equipment

– Enhanced service capabilities, ensuring faster response and reliability

– Strong, unified support from two complementary brands

For channel partners, this partnership opens up new opportunities to cross-sell and scale business with a wider product basket, backed by Bajaj Indef’s manufacturing and financial strength.

A Strategic Step Towards Vision 500

The acquisition of Daedalus is a significant milestone in Bajaj Indef’s Vision 500, which aims to transform the company into a ₹500 crore enterprise in the coming years. By entering the access equipment market through a trusted, fully indigenous brand, Bajaj Indef is poised to deliver enhanced value to customers and stakeholders.

Amit Bhalla, Managing Director, Bajaj Indef said on the occasion: “Daedalus is a promising start-up based on largely India based supply chain, and challenging the mighty global brands in India. In short time, they have developed unique products that can serve Indian manufacturing sector and warehousing sector. Bajaj Indef will not only support them to scale up in their dreams but also will be part of their journey hand in hand – to transform them from a small start up to most preferred brand in MEWPs and AWPs. The technical and financial strength of brand Bajaj Indef and depth and width of our customer base and distribution will drive this exponential growth. It is proud moment for us, that we are able to work together and offer more range of material handling products to our customers in line with our Vision 500.”
“This milestone marks a pivotal moment in our journey, uniting our innovative spirit with decades of proven expertise of Bajaj Indef. We continue to challenge boundaries and set new industry benchmarks. Our team is inspired and invigorated to unlock the True potential in Mobile Elevated Work Platform (MEWP) sector across India and International markets. Daedalus Lift and Access Equiments Pvt. Ltd. remains steadfast in delivering excellence as we shape a future defined by Growth, Innovation and Success for our Stakeholders,” Daedalus founders (Sujai Pujari, Mayur Alandkar, Avinash Poojari, Sushrut Joglekar) said on this occasion.
About Bajaj Indef
Bajaj Indef is a leader in hoisting and material handling solutions with a rich legacy spanning over six decades. Known for its customer-centricity, innovation, and trusted quality, Bajaj Indef serves industries across India and global markets through a robust network of authorized business partners.

About Daedalus

Established in 2017 in Pune, Daedalus is India’s first original design manufacturer (ODM) of battery-operated and manual Aerial Work Platforms and Mobile Elevating Work Platforms. The company embodies the spirit of innovation, safety, and self-reliance, delivering products that match international standards while being proudly Made in India.

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