Sharda Ispat Ltd share Price

Incorporated as Sharda Industries & Engineering Works Pvt Ltd in Sep.`60, Sharda Ispat became a public limited company on 12 Mar.`85. It acquired its present name in Oct.`89. The company product range includes hot rolled products of all grades. It also set-up another unit at Hingna in 1982-83 with an installed capacity of 25,000 tpa. The present promoters of the company are J K Sarda, G D Sarda. For the proposed expansion, the company came out with a public issue of 19,50,000 equity shares of Rs 10 each for cash at a premium of Rs 10 each per share aggregating to Rs 390 lac. In 1995-96, the company has come out with modernisation-cum-expansion for iron and steel to increase the installed capacity by 35,000 tpa. The New project of automatic rerolling mill at Kamptee Road and modernisation project at Hingna have been completed. Due to the general slow down in economy accompanied by declinig demand for steel, during the year 1999, the company is going to make reference to the BIFR for a Sick Company and measures for rehabilitation. As mentioned in the previous the company has been delcared sick and the company is expecting that with the rehabilitation measures and support from bank and financial institutions,the company will come out from its present crisis within a short period and regain its position.