https://indianpedia.org/index.php?action=history&feed=atom&title=Ispat_SteelIspat Steel - Revision history2026-07-31T04:06:32ZRevision history for this page on the wikiMediaWiki 1.45.4https://indianpedia.org/index.php?title=Ispat_Steel&diff=504819&oldid=prevLouieWebb342 at 03:36, 7 February 20252025-02-07T03:36:50Z<p></p>
<p><b>New page</b></p><div>{{Short description|Indian company}}<br />
{{Use British English|date=March 2013}}<br />
{{Use dmy dates|date=May 2023}}<br />
{{Infobox company<br />
| logo = Ispat Industries logo.svg<br />
| name = Ispat Steel Limited<br />
| traded_as = {{BSE was|500305}}<br />{{NSE was|ISPATIND}}<br />
| industry = Steel<br />
| foundation = {{Start date and age|1984}}<br />
| defunct = {{end date and age|2013}}<br />
| fate = Acquired by [[JSW Steel]]<br />
| location = Kalmeshwar, [[Nagpur]], India<br />
| num_employees = 3,000 (2008)<br />
| key_people = [[Sajjan Jindal]] (Chairman), B.K Singh (Chief executive officer)<br />
| products = [[Sponge iron]], Hot Rolled Coils, Cold Rolled Coils, [[Galvanization|Galvanized]] Sheets/ Coils, Colour Coated Sheets<br />
| revenue = {{increase}} {{INRConvert|10578.69|c}} (2010)<br />
| net_income = {{decrease}} {{INRConvert|-322.34|c}}<br />
}}<br />
{{for|Ispat International|Mittal Steel Company}}<br />
'''Ispat Steel Ltd''' (ISL) was an Indian company with operations in iron, steel, mining, energy and infrastructure. In 2012, it was acquired by [[JSW Steel]].<ref>{{cite news | url=https://www.thehindu.com/business/companies/ispat-merges-with-jsw-steel/article3848707.ece | title=Ispat merges with JSW Steel | work=[[The Hindu]] | location=[[Mumbai]] | date=2 September 2012}}</ref> <br />
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The company had two integrated steel plants, at Dolvi and [[Kalameshwar]] in the state of [[Maharashtra]]. The {{convert|1200|acre|km2}} Dolvi complex housed the 30 [[lakh]] tonne per annum hot rolled coils plant, which used the Conarc process for steel making as well as the compact strip process. The Dolvi complex has a captive port located close to it on the Amba River, which opens into the [[Arabian Sea]], that can handle barges and mini-bulk carriers up to 4,000 Dead Weight Tonnage (DWT). Moreover, a jetty adjoining the complex is capable of handling cargo of up to 1 [[crore]] (10 million) tonnes per annum. It has a [[direct reduced iron]] – sponge iron plant, [[blast furnace]], and compact strip production. The integrated steel plant at Kalmeshwar produced galvanised sheets and products and cold rolled coils. The Kalmeshwar complex houses a total of three advanced plants – a 3.25 lakh tonnes galvanised plain/galvanised corrugated plant, a 3.3 lakh tonne Cold rolled coils plant and a 60,000 tonne colour coated sheets plant. It had a [[cold rolling]] mill, [[galvanization]] line, and a colour coating line.<br />
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Ispat was the only steel maker in India and among a few in the world to have total flexibility in the choice of the steel making route - either via blast furnace or by electric arc furnace.<ref name=rise>{{Cite news | url=https://www.business-standard.com/article/companies/rise-fall-of-ispat-112091400016_1.html | title=Rise & fall of Ispat | author=Shubhashish | location=[[Mumbai]] | work=[[Business Standard]] | date=24 January 2013}}</ref><br />
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Ispat means [[steel]] in [[Hindi]] and the [[Bengali language]].<br />
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==History==<br />
The company was founded in 1984 as Nippon Denro Ispat Limited by Mohan Lal Mittal.<ref>{{cite news | url=https://www.rediff.com/money/2002/jul/12ispat.htm | title=Ispat's Mohan Mittal makes way for son | first=Rumi | last=Dutta | work=[[Rediff.com]] | date=12 July 2002}}</ref> <br />
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It was granted the first industrial license by the [[Government of India]] for manufacturing galvanised plain/corrugated sheets.<ref name=rise/> IIL was set up as a cold rolling reversing mill, in collaboration with [[Hitachi]] of Japan, to manufacture a wide range of cold rolled carbon steel strips.<br />
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In 1994, the family split its interests: the eldest son, [[Lakshmi Mittal]] continued managing the international operations as Ispat International (later called [[Mittal Steel Company]]), while [[Pramod Mittal]] and Vinod Mittal, the younger brothers, focused on steel and other businesses in [[India]].<ref name=rise/><ref>{{Cite news | url=https://www.rediff.com/business/report/mittal-brothers-may-chart-their-own-course/20101222.htm | title=Mittal brothers may chart their own course | first1=Ishita Ayan | last1=Dutt | first2=Arijit | last2=Barman | author3=Shubhashish | work=[[Rediff.com]] | date=22 December 2010}}</ref><br />
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In 1994, it commissioned the world's largest gas-based single mega module plant for manufacturing [[direct reduced iron]] (sponge iron), at its [[Maharashtra]]-based Dolvi plant, with a capacity of 1.6 million tons.<ref name=rise/><br />
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In 1995, hot strip mill with Continuous Strip Processing (CSP) technology was installed at Dolvi.<ref name=rise/><br />
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In 1998, an integrated steel plant for the production of hot rolled coils was launched, using technologies such as the Conarc Process for steel making and the Compact Strip Process.<ref name=rise/> The company continued to increase capacity in the early 2000s; in 2003, a 2-million tonne blast furnace was commissioned and sponge iron capacity was increased from 1.2 mtpa to 1.4 mtpa.<ref name=rise/><br />
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During the [[early 2000s recession]], heavy losses forced the company, as well as Essar Steel and JSW Steel, into debt restructurings.<ref name=rise/><br />
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However, the company was not able to implement a turnaround and in 2010, losses reached Rs 2,500 crore.<ref name=rise/><br />
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In 2010, JSW acquired a 41.57% interest in the company for [[₹]]2157 [[crore]] and renamed it JSW Ispat Steel.<ref>{{Cite news | url=https://timesofindia.indiatimes.com/business/india-business/jsw-buys-41-in-ispat-for-2157cr/articleshow/7141940.cms | title=JSW buys 41% in Ispat for 2157cr | first1=Reeba | last1=Zachariah | first2=Namrata | last2=Singh | work=[[The Times of India]] | date=22 December 2010}}</ref><ref>{{Cite news | url=https://www.livemint.com/Home-Page/A37nJJVJPS26UanPQ0Q8hO/JSW-acquires-4129-stake-in-Ispat-Industries-for-Rs-2157-c.html | title=JSW acquires 41.29% stake in Ispat Industries for ₹2,157 cr | first1=Joel | last1=Rebello| first2=Harini | last2=Subramani | work=[[Mint (newspaper)|Mint]] | location=[[Mumbai]] | date=21 December 2010}}</ref> It acquired the remainder of the company in 2013 based on an enterprise value of $3 billion.<ref name=rise/> The acquisition was described as a "bailout" for Ispat Steel.<ref>{{Cite news | url=https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/the-rise-and-fall-of-ispat-industries-in-kolkata/articleshow/7142434.cms | title=The rise and fall of Ispat Industries in Kolkata | first=Anuradha | last=Himatsingka | work=[[The Economic Times]] | date=22 December 2010}}</ref><br />
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==References==<br />
{{Reflist}}<br />
<br />
{{Steel industry of India}}<br />
{{JSW Group}}<br />
<br />
[[Category:1984 establishments in Maharashtra]]<br />
[[Category:Companies based in Maharashtra]]<br />
[[Category:Companies established in 1984]]<br />
[[Category:Companies formerly listed on the Bombay Stock Exchange]]<br />
[[Category:Companies formerly listed on the National Stock Exchange of India]]<br />
[[Category:JSW Group]]<br />
[[Category:Steel companies of India]]</div>LouieWebb342