Steelco Gujarat Limited (STEELCO) was incorporated as a public limited company on 9th January, under the Companies Act, 1956 with the Registrar of Companies, Gujarat, at Ahmedabad. STEELCO obtained a Certificate of Commencement of Business on 20th February, 1989. PROMOTERS STEELCO has been promoted by SPICA Investments Limited, Mauritius (NRI Promoting Company), a Company of the Chandaria Family, which controls an International Group, having vast experience in the steel industry and by Essar Gujarat Limited (Indian Promoting Company). THE CHANDARIAS /"COMCRAFT GROUP" The contribution equivalent to 40% of total Equity of STEELCO is being made by SPICA Investments Limited, Mauritius, (SPICA). SPICA is an Overseas Body Corporate, predominantly owned and controlled by the Chandaria Family who are Non-Residents of Indian origin. 2004 -Delist of the Company's securities from its Exchange with effect from December 11, 2004. The Chandrias, who established their principal business interests in East Africa in 1917, now oversee over 200 manufacturing units, engaged in diverse areas which include Steel, Aluminium, Plastics, Chemicals, Building Products, Electronics, etc. spread across the Americans, Europe, Africa, Australia and South-East Asia. These companies operate as decentralised profit centres. Business interests of the Chandarias in the international business, are generally known as "Comcraft Group". The Comcraft Group has established management service companies in London, Geneva, Nairobi, Singapore, Toronto, etc. The net-work of these companies monitors/overseas the activities of the manufacturing and other units of the Group world-wide. ESSAR GUJARAT LIMITED Essar Gujarat Limited (EGL), a company incorporated in 1976 under the Companies Act, 1956, is a company belonging to the Essar Group. EGL is joint promoter of STEELCO. EGL, alongwith its subsidiaries, will contribute 11% of the total equity share capital of STEELCO. EGL, which is setting-up the second largest integrated steel plant in the private sector in India, is an existing profit making, dividend paying Company. EGL's Equity Shares and Debentures are quoted on seven main stock exchanges in India. It has a shareholder strength of over half a million. The major activity of EGL is in the steel sector, where it currently owns and operates India's larges gas based sponge iron manufacturing facility, which is situated at Hazira, in Surat District, in the State of Gujarat. EGL sells sponge iron in the domestic market and commands about 65% market share. EGL is now at an advanced stage of setting-up a world size steel plant to manufacture Hot Rolled Steel Coils (HR Coils) with a capacity of 1.6 million tonnes per annum, which is expected to be commissioned by June, 1994. The involvement of EGL in the project would be advantageous to STEELCO as it assures supply of quality Hot Rolled Coils, its key raw material. 2002 -Steelco Gujarat Ltd has informed that the comapny has allotted 1,28,97,500 Equity Shares of Rs 10/- each aggregating to Rs 12,89,75,000/- to Industrial Development Bank of India. 2004 -Second Hot Dip Continuous Galvanising line of capacity 50,000 MT per annum commissioned 2013 -Mr. S. S. Ranjan has been appointed as an additional director of the Company. -Mr. Vimal Chandaria, is appointed as an Additional Director of Company.