IIRM Holdings India Limited, initially known as Sudev Industries Limited, was founded on April 20, 1992, by Shri. Rajiv Agarwal, with Late Shri O.P. Agarwal as a co-promoter. The company went public on May 23, 1994, with an issue of 3 million equity shares. It established manufacturing facilities in Sikandrabad, Uttar Pradesh, focusing on rubber and plastic products utilizing innovative foaming technology to produce rotomoulded products with enhanced weight ratio and insulation.
The company pioneered the use of effective foaming technology in India and entered into a technical collaboration with T&D Rotomoulding Division of the UK's Tanks and Drums Group. This agreement provided IIRM Holdings with technological expertise in rotational moulding and non-conventional product manufacturing using advanced materials, which were not previously available domestically. The collaboration also included a buy-back arrangement for contracted products, enhancing the company's market reach and technological capabilities.
