Taking a significant step toward accelerating its Vision 500 growth agenda, Bajaj Indef has acquired an 80% stake in Daedalus Lift & Access Equipments Pvt. Ltd., an Indian innovator in the design and production of Aerial Work Platforms (AWPs) and Mobile Elevating Work Platforms (MEWPs). This acquisition marks a significant step forward in strengthening Bajaj Indef’s presence across the complete spectrum of material handling and access solutions.
A Startup Born from Passion and Ingenuity
Founded in 2017 by four young engineering graduates, Daedalus was established with the clear purpose of developing indigenous, world‑class access equipment in a market heavily reliant on imports. In just a few years, the company has carved a niche for itself by designing and producing a comprehensive range of AWPs and MEWPs—self‑propelled and manual scissor lifts, boom lifts, and vertical mast lifts—all built at its state‑of‑the‑art facility in Chakan, Pune.
The Meaning Behind the Name
Daedalus takes its name from the legendary Greek craftsman and inventor, celebrated for his creativity and technical brilliance. This ethos of innovation, precision, and problem‑solving is woven into the company’s DNA and reflected in every product it manufactures.
Delivering More Value to Customers and Channel Partners
The partnership with Bajaj Indef creates a powerful ecosystem for customers and distribution partners alike:
A Cornerstone for Vision 500
This acquisition reinforces Bajaj Indef’s Vision 500 plan, its strategic roadmap to grow into a ₹500 crore enterprise in the near future. The synergy of Daedalus’ innovation-led mindset with Bajaj Indef’s 60+ years of expertise, strong network, and advanced manufacturing capabilities sets the stage for sustainable growth and greater value creation for customers.
“Daedalus is a dynamic young company with a largely India-driven supply chain that has managed to take on global competitors in a very short span of time. Their products already cater effectively to the needs of the Indian manufacturing and warehousing sectors. With Bajaj Indef’s financial strength, technical expertise, and extensive customer network, we will help them scale rapidly and evolve from a start-up into a leading brand in MEWPs and AWPs. This partnership is a proud moment for us, as it allows us to expand our product portfolio and deliver on our Vision 500 strategy,” said Amit Bhalla, Managing Director, Bajaj Indef.
“This milestone is a turning point for our journey, bringing together our passion for innovation with the established legacy of Bajaj Indef. We remain committed to pushing boundaries and setting new standards in the MEWP sector across both Indian and global markets. Our team is energized to unlock fresh opportunities while staying true to our promise of delivering growth, innovation, and long-term value for all stakeholders,” said Daedalus founders – Sujai Pujari, Mayur Alandkar, Avinash Poojari, and Sushrut Joglekar.
About Bajaj Indef
For over six decades, Bajaj Indef has been at the forefront of India’s hoist and material handling sector, known for its engineering excellence, reliable products, and strong customer focus. To know more, visit www.indef.com.
About Daedalus
Daedalus Lift & Access Equipments Pvt. Ltd. is a first‑of‑its‑kind Indian original design manufacturer (ODM) of Aerial Work Platforms and Mobile Elevating Work Platforms. Based in Pune, Daedalus designs and manufactures its entire product line in India, staying true to the Make in India mission and delivering global‑standard safety and performance. To know more visit www.daedalusind.com
Moneycontrol Journalists are not involved in creation of this article.
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