In a strategic restructuring, Hercules Hoists Limited (HHL) has taken a major step by splitting into two distinct entities: HHL and Indef Manufacturing Limited (IML). This demerger, effective from October 1, 2024, marks a turning point for both companies. The separation allows each organization to sharpen its focus on its specific areas of expertise, enhancing their operational capabilities and driving growth within the material handling industry.
Post-demerger, HHL will function as an unregistered Core Investment Company (CIC) in accordance with the Reserve Bank of India’s CIC Regulations, 2020. The company’s primary objective will be to manage its investments across a diverse portfolio, which includes both listed and unlisted companies within its group. By concentrating on strategic investment management, HHL aims to optimize its portfolio’s performance, foster growth, and provide value to its shareholders.
The new structure offers HHL the flexibility to identify opportunities for expansion and further diversify its holdings, ultimately enhancing its position in the financial landscape. Meanwhile, Indef Manufacturing Limited (IML) will assume full control of all manufacturing operations, carrying on the legacy of the esteemed Bajaj Indef brand. IML will focus on producing high-quality material handling equipment, including mechanical hoists, electric chain hoists, wire rope hoists, cranes, and storage & retrieval systems.
By focusing solely on manufacturing and product development, IML is well-positioned to expand its market leadership and strengthen its reputation for quality and innovation. The creation of IML also means that all sales, distribution, and marketing efforts related to material handling equipment will now be managed by this dedicated entity. Customers will continue to work with the same trusted team, ensuring uninterrupted service and support during this transition.
The demerger represents more than just a change in structure; it’s a strategic decision designed to allow both HHL and IML to better leverage their individual strengths. HHL, as an investment-centric entity, will concentrate on strategic financial growth, while IML will dedicate itself to advancing its manufacturing expertise and delivering superior products to the market. This separation allows each company to optimize its resources, enhance efficiencies, and pursue growth opportunities tailored to their unique missions.
In line with these changes, Amit Bhalla has been named the Managing Director of Indef Manufacturing Limited. Previously serving as President & CEO of Hercules Hoists Limited, Amit Bhalla is enthusiastic about leading IML into its new era. “This restructuring provides us with a tremendous opportunity to propel the legacy of Bajaj Indef forward, reinforcing our leadership in the material handling sector,” Bhalla stated.
As HHL and IML move forward, both companies are in a strong position to deliver increased value to their customers and stakeholders. The demerger reflects a well-thought-out strategy to enhance each entity’s focus and performance while maintaining the high standards of quality and service that have become synonymous with the Bajaj Indef brand. Customers can expect continued reliability and support from the same dedicated teams they’ve always worked with, ensuring a seamless transition throughout this new phase.
Hercules Hoists Limited (HHL) and Indef Manufacturing Limited (IML) are fully committed to maintaining strong relationships with their customers and partners, appreciating the trust that has been placed in them. They look forward to a future filled with new opportunities and shared success.
Hercules Hoists Limited (HHL) is an investment-focused company, managing portfolios across listed and unlisted firms, operating as an unregistered Core Investment Company (CIC). Indef Manufacturing Limited (IML), born from HHL’s demerger, specializes in manufacturing high-quality material handling equipment, including hoists, cranes, and storage systems, proudly continuing the legacy of the renowned Bajaj Indef brand.
