Incorporated in Feb.'90, Dev Fasteners commenced commercial production in Jan.'93. It was promoted by K Ramesam, S Ramdas and others. It came out with a rights issue of 45.1 lac equity shares in Jan.96 at a premium of Rs 5, aggregating Rs 6.76 cr for the expansion and long term working capital requirements.
DFL is a manufacturer and supplier of high tensile fasteners to all reputed OEMs and also to the retail market. Major customers of the company include TELCO, Ashok Leyland, Wheels India, Mahindra and Mahindra, Godrej, GE and many others. DFL has collaborations with T R Fastenings, UK. The promoters have promoted many other companies -- Hofincons Industrial Services, Hofintel, Trimex Industries, Dev Credit and Investments, Esviel Exports, etc. DFL has been accredited with ISO 9002 certificate by TUV CERT of Germany in 1994-95.