Mumbai (Maharashtra) [India], February 22: Indef Manufacturing Limited (“IML”) (BSE Scrip code: [544364], NSE symbol: [BAJAJINDEF]) has officially been listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE), marking a significant milestone in its journey of innovation, excellence, and growth. The listing ceremony was commemorated with the ringing of the opening bell at BSE by Shri Shekhar Bajaj – Chairman of IML, MR. H. A. Nevatia – Founding Member, Mr. Amit Bhalla – Managing Director of IML and Ms. Radha Kirthivasan – Head of Listing & SME, Ms. Kamala K – Chief Regulatory Officer, BSE.
In 2022, Hercules Hoists Limited (HHL) initiated a strategic restructuring to optimize its business operations. This led to the demerger of its manufacturing division into a separate entity, IML, aiming for focused growth and enhanced operational efficiency. The company received an order from the Hon’ble National Company Law Tribunal (Mumbai Bench) on August 2, 2024.
Commenting on this achievement, Shri Shekhar Bajaj, Chairman of Indef Manufacturing Limited, stated:
“Today’s listing is more than just a milestone; it marks the beginning of an exciting new chapter for Indef Manufacturing Limited. With over six decades of expertise in material handling solutions, we now stand as an independent entity, ready to harness our full potential. This transition allows us to sharpen our focus on innovation, strengthen our market presence, and expand globally. Our world-class manufacturing facilities, robust business partner and supplier partner networks, and relentless commitment to engineering excellence position us for sustainable growth. For our shareholders, this listing represents a direct stake in a high-growth manufacturing enterprise, driven by quality, technology, and strategic expansion.”
Reflecting on the company’s journey, Mr. Amit Bhalla, Managing Director of Indef Manufacturing Limited, added:
“This milestone marks a new chapter for IML, reinforcing our commitment to excellence in hoists, cranes, and material handling solutions. Our legacy is built on delivering products that maximize ROI for our customers through technically superior solutions. With this listing, we aim to expand our footprint beyond domestic markets, accelerate innovation, and strengthen our partnerships. By leveraging our expertise and customer-centric approach, we are poised to drive long-term value for our stakeholders, ensuring strong returns and redefining industry benchmarks.
Further, with a strong network of partners and a relentless drive for growth, we are committed to achieving sustainable expansion and industry leadership. Investing in people and fostering a learning organization remains key to sustainable growth and industry leadership.”
About Indef Manufacturing Limited
Indef Manufacturing Limited is India’s leading provider of material handling solutions under the Bajaj Indef brand, built on a legacy of over 60 years. Resulting entity from the demerger of Hercules Hoists Limited, the company now operates as an independent entity, focusing on innovation, engineering excellence, and global expansion.
With state-of-the-art manufacturing facilities in Khalapur and Chakan, Bajaj Indef delivers world-class lifting solutions that cater to a diverse range of industries—from MSMEs to large-scale EPC projects. Backed by cutting-edge automation, precision engineering, and a strong distribution network, Bajaj Indef products are known for their safety, reliability, and performance.
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