Ahlada Engineers takes IPO route after exclusive biz deal with Tata Steel

BS ReporterHyderabad, 10 September: Tata Steel's green initiative to promote steel substitute for wooden doors in commercial and residential space through an exclusive tie up with Hyderabad-based Ahlada Engineers has the latter taking Initial Public Offering (IPO) route using the NSE SME platform for additional capital to build supply capacities.Tata Steel had entered into a master manufacturing and supply agreement(MMSA) with Ahlada in August last year for procurement of close to 1.2 million doors in four years with an option to renew the pact for four more years. Comes with a touch and feel similar to wooden doors, this product would be exclusively marketed by Tata Steel under the brand name 'Tata Pravesh'.A manufacturer of clean room equipment and stainless steel furniture for pharma and food processing industry, Ahlada started producing steel doors and the matching steel windows in wooden finish in small quantities in 2013. With Tata Steel spotting the potential of its product, ...

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