Ashoka Metcast Ltd

Ashoka Metcast Ltd

Ashoka Metcast Limited was incorporated as 'Tanya Estate Private Limited' on July 29 2009. The company had in its earlier years began to develop real estate infrastructure and land plotting vertical; however; due to unforeseen circumstances and changes in market dynamics the real estate business division faced delays in execution of its plans and eventually could not complete the proposed acquisition and related plans. Hence the company was thereafter non-operative for since incorporation and has been over time looking to re-align its business model and financial allocations. The Company has changed its main objects on July 202017 and the name was changed to 'Ashoka Metcast Private Limited' on September 13 2017. Further the status of the company was changed to a public limited company by a special resolution passed at a shareholders' meeting on October 23 2017 and consequently name of the Company was changed to 'Ashoka Metcast Limited' on November 09 2017. The company is currently engaged in trading and manufacturing of structural steel products like TMT bars angles channels MS Bars etc. Further the company has recently acquired 100% stake in Shree Ghantakarna Rolling Mills Pvt. Ltd. (making it its wholly owned subsidiary company). The subsidiary company owns a rolling mill having aggregate installed capacity of 12000 tons; however the same has been non-operational for 16 years due to internal financial constraints as well as market conditions. Post acquisition the company has begun the process of revamping as well as expanding its production facilities and intend to begin its production in April 2018 with an aggregate installed capacity of 18000 tons per annum.