After GFL Limited & National Peroxide Limited, Hercules Hoists Limited decided to join the que.
Hercules Hoists Limited ("HHL" or "Demerged Company"), a Shekhar Bajaj group entity, is preliminary engaged in business of manufacturing of mechanical hoists, electric chain hoists, wire rope hoist and other material handling equipment. Along with this it also has investments mainly in the nature of equity shares of other Bajaj group companies. The equity shares of the company are listed on nationwide exchanges.
Indef Manufacturing Limited ("IML" or "Resulting Company") is newly incorporated company for facilitation of the proposed demerger. Currently, IML is a wholly owned subsidiary of HHL.
The Transaction
The proposed Scheme of Arrangement inter-alia provides for demerger of "Manufacturing Business" of HHL to IML.
The "Manufacturing Business" includes manufacturing and sales of diverse types of hoists. Post-demerger, HHL shall house only Investments mainly in the nature of equity shares of other Bajaj Group entities.
Key investments as on 31st March 2022:
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