Ittefaq Iron Industries

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

Ittefaq Iron Industries
Ittefaq Iron Industries
Company typePublic
PSX: ITTEFAQ
IndustrySteel
Founded2009 (2009)
FounderMian Muhammad Shafi
HeadquartersLahore, Pakistan
Area served
Pakistan
Websitewww.ittefaqsteel.com

History

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
  1. "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. "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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