The company was incorporated on 7th August 2002 as Ankit Steel Works Private Limited and was subsequently renamed as Ankit Metal & Power Private Limited on 8th July 2004. Suresh Kumar Patni has promoted the company. Pursuant to change in the corporate status of the Company from Private to Public, the name of the company was further changed to Ankit Metal & Power Limited with effect from 31st August 2004.
The company has setting up an Integrated Steel Plant at village Chhatna, Jorehira in Bankura District of West Bengal. This project comprising of (i) 1,05,000 TPA Sponge Iron Plant (ii) 65,140 TPA Billet Casting Plant (iii) 1,00,000 TPA Re-Rolling Mill (iv) 8.5 MW Waste Heat Recovery Based (WHRB) captive power plant (utilising the waste gases from the sponge iron plant) and (v) 4 MW Atmospheric Fluidised Bed Combustion (AFBC) based captive power plant.
The First Phase comprising of Sponge Iron Plant has commenced commercial operations in October 2005. A part of the 2nd Phase comprising of Steel Melting Shop for manufacturing of Ingots / Billets has started production in January 2006. The remaining of 2nd Phase comprising of Re-rolling mill and the WHRB Captive Power Plant are estimated to be commissioned in July, 2007, whereas the AFBC Captive Power Plant is estimated to start its operation from July, 2007.