Mahavir Industries Ltd. (Formerly known as Sai Wires India Ltd) incorporated in October, 1989 is presently promoted by Girdhar S Bansal and Deepak S. Bansal. Since incorporation, the Company was not operational. It was carrying out the preliminary works like identifying the collaborators and study of the proposed project to manufacture special coated wires. Later on, one of the subscriber, S Ram Mohan, acquired the company in Nov.94 and started the activities.The company is setting up a project to manufacture 3000 tpa of copper coated and carbondioxide weling wires on the latest electrolysis process at Warangal, Andhra Pradesh. The project was part financed through a public issue of 33,50,000 equity shares of Rs 10 for cash at par aggregating Rs 335 lac, made by the company in Feb.96.
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