Incorporated in Jul.'94 as a public limited company, J M D Alloys was originally promoted by Shree Vaishnavi Dyeing and Printing and Vijay Agarwal. Subsequently, the management of the company was re-organised and the shares held by the promoting company was transferred in the name of Jai Mata Di Ispat, which is having 7 years of experience in the field of steel and related products. The company set up an integrated mini steel plant to manufacture steel rolled products and wire rods at Dekuli, Bihar. Commercial production of steel ingots commenced in Sep.'95 and that of the finished steel product and billets commenced in the beginning of 1996. The company came out with a public issue in Jan.'96 to part-finance its mini steel project and also to augment its working capital requirements.