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Metalyst Forgings Ltd. Company History and Annual Growth Details

1977 - The company was incorporated on 21st March and it reserved the
Certificate for commencement of Business on April 1st. It was
promoted by a group of technicals consisting of U.V. Patel,
M.S. Aruna & J.S. Mody. The Company's plants are located at
D-95, MIDC Industrial area Ahmednagar, at Taluka Khed, Dist.

- The company's objects is to manufacture of closed die steel

- The Company had undertaken an expansion programme for steel
forgings in automobiles as well as in general engineering
industry, the company had undertaken an expansion programme by
selling up a new plant at Chakan near Pune with an invesment of
Rs.580 lakhs.

1992 - The Company acquired assets of a sick unit in Ahmednagar from
SICOM to manufacture cold forgings. The unit remained as Asian
Auto Parts, a division of Ahmednagar Forgings Ltd.

1993 - The Company undertook to set up its fourth unit at Kuruli Mar
Chankan in modern press forgings line.

1994 - 6,08,000 No. of equity shares allotted 15,20,000 shares were
issued to the promoters in prop. 5:2. 9,12,000 No. of equity
shares were issued at a prem of Rs.13 per share through a
prospectus during January 1992 of which 45,600 shares issued to
employees (all were taken up). Balance 8,66,400 shares issued
to the public.

1996 - 9,60,000 No. of equity shares at a prem. of Rs.165 per share to
Financial Institution on private placement basis in March 1995.
Another 40,00,000 shares issued as bonus shares on 26.5.1995 in
prop. 1:1.

1997 - Two presses were commissioned and the third one was to be
commissioned soon.


-Ahmednagar Forgings Ltd has informed that the equity shares of the company have been delisted from Pune Stock Exchange Limited wef January 16, 2004.
Oct 27, 12:00 am
Oct 27, 4:14 pm
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