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EL Forge, incorporated in 1963. is engaged in the business of manufacturing Rough Steel Forgings i. e. fuel injection forgings, steering rods, tie rods, engine and gear boxes, starter items etc. for automobile industry. The company exports its products to the US, Germany, Srilanka and Malaysia. It has became the largest manufacturer of forgins in South India after the merger of Chendur Forge Export, a company in the same line of business with the company(with effective from April 1, 1995). To fund this acquisation of Chendur Forgings and financing the cost of machinery & to augment long-term working capital, the company came out with a rights issue at a premium of Rs.