Set up in 1985 by technocrat Mukesh Bhandari and family, Electrotherm (India) Limited (“EIL” or “Company”) is a leading manufacturer of induction melting furnaces for mini steel plants and foundries. EIL has strong technology orientation and its focus on R&D has enabled it to be a world leader in innovations in induction furnace technology. EIL is also exporting furnaces and sees a huge opportunity in the Middle East, African region and CIS regions. Besides induction furnaces, EIL also manufactures ladle refining furnace and AOD furnace. The Company is leveraging its engineering talent pool to achieve multiple growth strategies and has charted out an aggressive growth strategy across business lines. The funds raised by the company shall be utilized towards executing the company’s organic growth plans.

EIL has a strong professional management team with vast experience that has enabled it to diversify its operations. In last few years, it has made a foray into other businesses viz. EPC services, specialty steel and electric vehicles. As an extension of its furnace manufacturing business, EIL has forayed into EPC contracts for setting up mini steel plants and captive power plants. EIL has also tied up with HYL (Mexico) to implement small gas based DRI plants across the globe. Leveraging its understanding of the steel sector, EIL has set up a mini steel plant for manufacturing high end steel products using induction furnaces. Currently, the Company manufactures billets, TMT bars, stainless steel and DI pipes which are used mainly in the construction sector. Capitalising on its expertise in power systems, EIL launched electric scooters under the “Yo Byke” brand in February 2006 in Gujarat. With its first mover advantage and established sales and service network, EIL expects to develop the market and maintain its leadership in the electric vehicle segment.

EIL’s main plant at Palodia (Ahmedabad) manufactures induction furnaces and other capital equipments. The Company has set up its 2nd plant in Kutch for the manufacture of specialty steel and assembly of electric vehicles.