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Monnet Ispat & Energy Ltd. Company History and Annual Growth Details

Monnet Ispat Ltd. (MIL) was incorporated on February 1, 1990 in the State of West Bengal and subsequently the registered office of the Company was shifted from Calcutta in the State of West Bengal to Union Territory of Delhi vide CLB Order No.CLB/ERB/CAL/4(109)92 dated 13.01.93 and which was registered by Registrar of Companies Delhi & Haryana on 19.01.93 and obtained the Certificate of Commencement of Business on 8th February, 1990; MIL is setting up a 1,00,000 tpa Sponge Iron Project at Village Kurud, Dist. Raipur, Madhya Pradesh.

MIL has been promoted jointly by Mr. Sandeep Jajodia and Jindal Strips Limited for setting up a project for the manufacture of Sponge Iron at village Kurud, District Raipur, Madhya Pradesh, Jindal Strips Ltd (JSL) are providing technical know how for the project.

Jindal Strips Ltd (JSL), is the flagship company of the Jindal group and is an existing, listed and highly profitable company. With an annual turnover of over Rs 450 crore, JSL is one of the leaders in the Steel Industry in India. Their products include stainless Steel, Ferro Chrome, Cold Rolled Steel, Sponge Iron, etc.

JSL developed indigenously, the technology to manufacture Sponge Iron using the non-coking coal route and are setting up manufacturing facility at Raigarh, Madhya Pradesh, with a total capacity of 6,00,000 tpa of Sponge Iron. A capacity of 2,00,000 tpa of Sponge Iron has already been installed with satisfactory results.

-Monnet Ispat Board approves merger of Monnet Power Ltd with the company

-Monnet Ispat Board approves Preferential Allotment

2006

-Monnet Ispat changes name to Monnet Ispat and Energy Ltd

-Company has changed its name from Monnet Ispat Ltd. to Monnet Ispat & Energy Ltd.

2008

-Monnet Ispat news item appearing in a leading financial daily titled "Monnet in 1,000 mw Indonesia project", Monnet Ispat Ltd has clarified that the Company is only in discussion with the Indonesian Authorities for putting up coal fired Power Plant in that country on a pit-head basis.


2009

-Monnet Ispat Ltd has the Mounteverest Trading & Investment Ltd (MTIL) has executed Share Purchase & Shareholders' Agreement to acquire 54,20,000 equity shares of Orissa Sponge Iron & Steel Ltd.


2010

-MonnetIspat - Monnet Ispat announces appointment of Deputy Managing Director


2011

-MonnetIspat - Monnet Ispat & Energy Limited acquires Indonesian Coal Company.


2012

- Monnet Ispat & Energy Ltd presents "Go for Gold" campaign A nation wide movement to encourage Indian athletes and unite Indian fans to support them for the forthcoming London Olympics 2012.

- MIEL felicitates M C Mary Kom and entire Indian Boxing Contingent.

- Monnet Ispat And Energy Ltd has informed that the Board of Directors of the Company have recommended a final dividend of Rs.2.50 per equity share.

2013

- Board has recommended a Dividend of Rs. 1.50 per equity share of Rs. 10/- each.

2014

- Board has recommended a Dividend of 10% (Rs. 1.00 per equity share of Rs. 10/- each).
- Monnet Foundation receives ‘Responsible Business Award - Enterprise & Culture’ for the year 2014.

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