IFB Industries was established in 1974 by Dr. V.K. Banerjee and K.L. Banerjee as Indian Fine Blanks Limited. It initially started its operations as a joint venture with Heil Klinker of West Germany and Siemens AG, for the manufacturing of automobile parts, industrial appliances, home appliances, dairy equipment, office and communication equipment, etc. In 1976, the first production unit of IFB was set up with an investment of INR 150 million. By 1990, the company had six manufacturing units in India and abroad.
