Pioneers in the manufacture of copper wire in India, Devidayal Industries (formerly Devidayal Electronics and Wires) also produces steel and alloy wires and PVC winding wires. Around 45% of its sales come from enamelled wire. The company has its manufacturing facilities at Thane, Maharashtra. Copper enamelled winding wires are used in electric motors, transformers, anti electricals, consumer electricals, etc. It has three divisions -- copper, ferrous and fire protection. The company mobilised working capital requirements through a rights issue (1:1; premium : Rs 10) in Jan.'93, after which the equity doubled to Rs 2.34 cr. In 1994-95, due to uncertain market conditions for copper division and heavy working capital requirement, the company decided to rationalise products and restrict the production of the copper division. It also decided to discontinue the production of PVC winding wire and reduce the manpower. Its fire protection division has a significant presence in the market. This division also proposes to have agencies of the related products for the well known brands abroad. The company has been sick sick and it has made refrence to BIFR under section 3 of SICA vide order dated 19/11/97.