Desai Metalinks Ltd, part of the Desai Group of Companies, plans to enter the capital market with an SME IPO to collect Rs 25 crore shortly.
The company produces quality ferro-manganese briquettes for the steel industry. It has a plant with an installed capacity of 36,000 TPA. The prime objective of the SME IPO is to raise funds for its working capital requirements, said Pranit Hem Desai, promoter, in a press release here on Wednesday.
He said Desai Metalinks is the only producer of this product globally. “After research for around three years, we have developed our own technology for this product.”
Ferro-manganese briquettes are used in refining of steel, as an alloying agent. It is a replacement for ferro-manganese lumps and is a cost effective solution for primary stainless steel producers, he added.