Smiths & Founders (India) Ltd Share Price

(513418)

Shimoga Technologies Ltd was incorporated in October 1990 as a private limited company. It became a public limited company in May 1992 and manufactures steel forgings from the hot forging technology. The company converted into Smiths & Founders India Ltd after a merger in 2012 and became a Sick Company after the networth and accumulated losses exceeded the paid up share capital. It has an installed capacity of 450 tonnes per annum and caters to the automobile, agriculture, mining, power transmission and general engineering industries. It also offers a Banking Software Conch Bank meant for Cooperative sectors and societies and sold its unit at Chikkaballapura in 2009. With apublic issue of 31 lakh equity shares worth Rs 3.1 crore in January 1993, itpart-funded a project to expand its steel forging capacity from 500 tonnes per annum to1890 tonnes per annum which was completed in 1997.

Chairperson Name: Suresh Shastry