Registered as a partnership firm in 1982, in the name of Mehta Steel Industries, Munis Forge was later on converted into public limited company in Jan.'95 under the present name. The company, which is promoted by the Nagpur based Mehta & Group, was initially engaged in the manufacture of air coolers. Later on it diversified into the production of steel forgings with an installed capacity of 10,000 tpa, in 1995. MFL presently deals in a variety of iron and steel products.
The company came out with a public issue of 16,00,000 equity shares at a premium of Rs. 30/- aggregating to Rs. 6.40 crs, during Aug.'96, to finance its expansion plans. It also planned to set up a unit to manufacture steel ingots (cap. 17500 tpa) and a rolling mill with a capacity of 7500 tpa.