FIPL was promoted by Mr. Muthuswamy Ganapathy Ravi and Mr. Ganapathy Azhia Nambi. Both the promoters were keenly interested in setting up a chain of industries in southern India. Their vision was to build a network of industries to cater to the market for steel products in the southern part of India. With this vision the company leased out and revived the Ingot unit at Palladam and entered into Job Work Contract with Rudra Steel Rolling Mills for manufacture of TMT Bars under the brand name of “Best Star” and “Ferro Star”. The ingots / billets are used for in house production of TMT re-bars and are also sold to other TMT Rod/ bar manufacturing units.
FIPL has units currently operating furnaces and rolling mills at Palladam - Tirupur District, Kinathukadavu - Coimbatire District, Sriviliputhur - Virudhunagar district, Tamil Nadu and has an unit under construction at Pazahvur - Tirunelveli district.