Indef Manufacturing Limited was established in Mumbai, Maharashtra as a public company, pursuant to a certificate of incorporation dated 12th September, 2022, as registered with the Registrar of Companies, Mumbai. the Company was established with a view to undertake the businesses of manufacturing of hoists, cranes and other material handling equipment i.e. the business of Hercules Hoists Limited and

specifically the Manufacturing Business.

The Scheme of Arrangement for Demerger between Hercules Hoists Limited (HHL) and the Company was implemented in August, 2024. After demerger approval from the respective authority, the Company commenced their manufacturing business upon transfer of the Demerged Undertaking of Hercules Hoists Limited to the Company as a going concern. And the Scheme of Arrangement for Demerger was given effect on September 30, 2024.

In terms of the said Scheme, the Company has issued and allotted 3,20,00,000 Equity Shares to the shareholders of Hercules Hoists Limited (HHL) on 11 October, 2024 in the ratio of 1: i.e. 1 equity share of the face value of Re 1 each fully paid-up of the Company is issued and allotted for every 1 equity share of face value of Re 1 each fully paid up held by equity shareholders of Hercules Hoists Limited.