|₹11.92 / ₹4.34|
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Miven Machine Tools Ltd(formerly Giddings & Lewis India Ltd) originally promoted by Mysore Kirloskar in 1985 in technical Collaboration with The Warner and Swasey Company, a Subsidiary of Giddings & Lewis Inc. USA to manufacture turning machines has completely came into the fold of Foreign partner by buying out the 38% equity stake of Mysore Kirloskars, the Indian Promoters. Subsequent to increasing the stake to 76% by foreign promoters the name of the company was changed to Giddings & Lewis India Ltd from Kirloskar Waner Swasey in July 23, 1999. Latter N A Sirur(Hubli) Pvt Ltd has acquired 86% equity stake of the company and the name of the company has also changed to the present one w. e. f July 23, 2002. The company came out with a public issue in Nov. '86 to set up a machine tool unit in Karnataka to manufacture 62 computer numerically controlled (CNC) turning machines pa.