Electrex India Limited (EIL) was incorporated on 22nd December 1982 as a private limited company. It was converted into a Public Limited Company on 21st June 1989.
ELECTREX was initially set up as a S.S.I unit for manufacturing Power Tools. In the initial phase of the project Canara Bank invested Rs.1 Cr as Venture Capital while K.S.F.C and IDBI assisted the project by providing Seed Capital and Soft Loan apart from Term Loan. Subsequently Hitachi Koki Co., Ltd., world’s 4th largest manufacturers of Power Tools invested Rs.25 Lacs towards Equity Capital of the Company and extended Technical Collaboration. EIL went public in 1993.