MFS Intercorp Ltd., originally incorporated as Muskan Ferro Silicons Limited in 1986, is a company that transitioned from a private to a public entity in 1992. Initially focused on producing Ferro Silicon, MFS Intercorp shifted to manufacturing Silicon Manganese due to evolving market demands, increasing its production capacity to 13 metric tons per day. In 1994, the company launched a public issue of 3 million equity shares at Rs. 10 each, raising Rs. 300 lakhs. This capital was intended to partially finance a project aimed at establishing a ferro alloys manufacturing unit, focusing on Silico-Manganese, with a total project cost of Rs. 520 crore. This strategic pivot highlights the company's adaptability to market trends and its commitment to scaling operations in the ferro alloys sector.
