Scan Steels Limited was formerly incorporated as Mittal Securities Private Limited on January 18, 1994 as a Private Limited Company. The Company was converted in the Public Limited Company on 18th October 1994 and the name was changed to Mittal Securities Finance Limited. Mittal Securities Finance Limited then was changed to Clarus Finance & Securities Limited on November 7, 2007; further the name of the Company was changed from Clarus Finance & Securities Limited to Clarus Infrastructure Realties Limited on March 31, 2010 and again was changed from Clarus Infrastructure Realties Limited to Scan Steels Limited effective from 26 September, 2014.
The Company has its listings on the BSE Limited in India. It is engaged in steel manufacturing business such as TMT Re-Bars, Sponge Iron, MS Billets/ Ingots and also generating power for captive consumption. The Company has manufacturing plants in Odisha and Karnataka. Initially, the Company engaged in the business of Finance Investment and Trading in Shares and Securities. In 1994, the Company came up with an public issue of 7,50,000 Equity Shares of Rs.10 each for cash at par aggregating to Rs. 0.75 Crore. This issue was to part finance the plan to expand and diversify its business activities.
Scan Steels Limited got merged with Clarus Infrastructure Realties Limited through the Scheme of Amalgamation, which became effective on August 12, 2014 in year 2012. Pursuant to Scheme of Merger, for every 10 Equity Shares of Rs 10/- each held by Shareholders in M/s. Scan Steels Limited, 8.03 Equity Share of Rs 10/-each credited as fully paid-up in the Equity Share Capital of the M/s. Clarus Infrastructure Realties Limited. As per above ratio, the Company allotted 2,00,00,000 equity shares pursuant to the scheme of merger on 18.03.2014 to the shareholders of .Scan Steels Limited.
The Company has installed a New Rolling Mill having an installed capacity of 38TPH within a existing facility at Budhakata unit, in Odisha in 2023.