Sarda Energy & Minerals Ltd Share Price

Summary

Sarda Energy & Minerals Ltd (Formerly known as Raipur Alloys & Steel Ltd) was established on June 23, 1976. Led by the Tejpaul Group, the Company has integrated steel manufacturing unit with facilities, ferro alloys backed by captive thermal power plant and is presently, engaged in metal, mining and power sector.It operates in the hydropower projects through SPVs.The Sanda Group purchased it in 1979 and renamed it Raipur Alloys & Steel in 1985. The Group produces sponge iron, for its captive use to convert it into rolled products for sale. The company came out with an issue of fully convertible debentures in Dec.92 to part-finance the sponge iron project and meet part of the long-term working capital requirements. The products of the company, mild steel and carbon steel billets, are used by re-rollers.To make its sponge iron plant self-sufficient, it has identified areas in Madhya Pradesh having good deposits of iron ore and has applied for leases in these areas. This will reduce the cost of iron ore, resulting in a lower cost of sponge iron. The company started commercial production in the second kiln in its sponge iron plant, from Sep.95.During 1997-98, the Indian Bureau of Mines, Govt. of India has granted its approval to the company for mining lease in 100 hectares in Dongarbor in Rajnandgaon district of M.P. In 1998-99, the Company applied for additional area of about 125 Hectares for iron ore mining and expects to get Prospecting License in the near future. It has recei
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