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Ittefaq Iron Industries

From Wikipedia - Reading time: 4 min
Ittefaq Iron Industries
Ittefaq Iron Industries
Company typePublic
PSX: ITTEFAQ
IndustrySteel
Founded2009; 15 years ago (2009)
FounderMian Muhammad Shafi
HeadquartersLahore, Pakistan
Area served
Pakistan
Websitewww.ittefaqsteel.com

Ittefaq Iron Industries (Urdu: اتفاق آئرن انڈسٹریز) is a Pakistani steel manufacturer based in Lahore, Pakistan.[1][2]

History

[edit]

Ittefaq Iron Industries Limited was founded in 2004 by the Alshafi Group, which originated from Ittefaq Foundries.[3] In the early 1990s, the group separated from Ittefaq Foundries and inherited Ittefaq Sugar and Brother Steel.[4] Later, it established several companies, such as Kashmir Sugar Mills, Kashmir Feeds, Ittefaq Bio Tech, and Kashmir Poultry Breeders.[4] It is also a trustee of the Ittefaq Hospital.[4]

In 2004, Ittefaq Sons was incorporated to produce steel bars.[4] The company expanded in 2008 with an additional induction furnace, incorporated as Alshafi Steel.[4] A year later, Alshafi Steel merged with Ittefaq Sons, forming Ittefaq Iron Industries Limited in 2009.[1][5]

In 2017, Ittefaq Iron Industries raised Rs. 1.26 billion through initial public offering at a strike price of Rs. 30.2 and became a listed company on the Pakistan Stock Exchange.[6][7]

References

[edit]
  1. ^ a b "Ittefaq Industries plans initial public offering". The News International.
  2. ^ "Ittefaq Iron Industries listed on PSX". 5 July 2017.
  3. ^ Hussain, Arshad (May 21, 2017). "Ittefaq Iron hides information regarding pending cases from SECP, PSX". Profit by Pakistan Today.
  4. ^ a b c d e "Ittefaq Iron Industries" (PDF).
  5. ^ Research, B. R. (August 28, 2023). "Ittefaq Iron Industries Limited". Brecorder.
  6. ^ "Ittefaq Iron Industries Ltd formally listed with PSX". The News International.
  7. ^ "Ittefaq Iron set to raise financing of Rs1.26b at PSX". The Express Tribune. May 11, 2017.
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