|₹67.55 / ₹22.4|
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Monnet Ispat & Energy Limited (MIEL), formerly known as Monnet Ispat Limited (MIL) was incorporated on 1st February 1990. The Company was promoted jointly by Sandeep Jajodia and Jindal Strips, its principal activities are to manufacture and market Sponge Iron, Steel and Ferro Alloys. In addition, MIEL is engaged in mining of coal and power generation for captive consumption. For the manufacturing purpose, the company has two workstations in Chattisgarh state. The Raipur sponge iron plant of the company was started with the capacity of 1 lac TPA in the state of Chattisgarh during the year 1994. During the year 2001-02, the company had implemented expansion project (Unit-II) by added one more sponge iron kiln of 1, 30,000 TPA capacity, commercial production of the same was started in December of the year 2001. The Company had given shape to its long term holistic raw materials to finished product strategy in order to further weed out external margin in the year of 2002-03. Monnet Power Limited was merged with the company was formalized with effect from 1st January of the year 2004.