Scan Steels Ltd Company Summary

Scan Steels Limited was formerly incorporated as Mittal Securities Private Limited on January 18, 1994 as a Private Limited Company. The Company converted in the Public Limited Company on 18 October 1994 and the name was changed to Mittal Securities Finance Limited. On November 7, 2007, it changed to Clarus Finance & Securities Limited and to Clarus Infrastructure Realties Limited on March 31, 2010 and once again attained the name to Scan Steels Limited with effect from 26 September, 2014.

The Company is engaged in steel manufacturing business such as TMT Re-Bars, Sponge Iron, MS Billets/ Ingots and also generating power for captive consumption. The Company has manufacturing plants in Odisha and Karnataka. It operate a production capacity of 3,34,400 MT of TMT Plant.

Initially, the Company engaged in the business of Finance Investment and Trading in Shares and Securities. In 1994, the Company came up with an public issue of 7,50,000 Equity Shares of Rs.10 each for cash at par aggregating to Rs. 0.75 Crore.

This issue was to part finance the plan to expand and diversify its business activities.The Company got merged with Clarus Infrastructure Realties Limited through the Scheme of Amalgamation, making it effective on August 12, 2014 in year 2012. Pursuant to Scheme of Merger, for every 10 Equity Shares of Rs 10/- each held by Shareholders in M/s. Scan Steels Limited, 8.03 Equity Share of Rs 10/-each credited as fully paid-up in the Equity Share Capital of the M/s.

Clarus Infrastructure Realties Limited. As per above ratio, the Company allotted 2,00,00,000 equity shares pursuant to the scheme of merger on 18.03.2014 to the shareholders of .Scan Steels Limited.The Company installed a New Rolling Mill having an installed capacity of 38TPH within a existing facility at Budhakata Unit, at Odisha in 2023.In 2024, it commissioned a new state-of-the-art manufacturing TMT mills, enhancing the production capacity in FY24.