Ittefaq Iron Industries

Trade name

| Ittefaq Iron Industries
Company type| Public

Traded as

| PSX: ITTEFAQ
Industry| Steel
Founded| 2009; 15 years ago (2009)
Founder| Mian Muhammad Shafi
Headquarters| Lahore, Pakistan

Area served

| Pakistan
Website| www.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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