1956 - The Company was incorporated as a private limited company on 6th February. It was promoted by Mr. S. B. Jhaveri of the Nanavati group for setting up a solvent extraction plant at Jamnagar with a capacity to process 50 tonnes of de-oiled cakes per day. The Company manufacture refined solvent extracted groundnut oil. - The Company has been exporting groundnut de-oiled cakes. Domestically the Company sells its refined solvent extracted ground nut oil, under the brand name "Diamond". The Company has set up a factory at Vapi for manufacture of Nitro Chloro Anilines with an installed capacity of 100 tpa. 1994 - 20,00,000 shares allotted for cash at par. 13,33,333 No. of equity shares were then issued at a premium of Rs 20 per shares during June 1994 as follows: (I) In firm allotment basis: (i) 1,33,333 shares to promoters, their friends etc. (ii) 60,000 shares to Canbank Mutual Fund. (II) On preferential Allotment basis: (i) 60,000 shares to Indian Mutual Fund (none were taken up) (ii) 32,200 shares to permanent employees (only 18,100 shares taken up). Balance 8,67,800 shares along with unsubscribed portion of 74,100 shares was added to public offer (all were taken up). 1996 - The Company has undertaken an expansion programme at Vapi chemical division to increase the production capacity from 360 TPA to 540 TPA. The Alfa-Laval refinery at Jamnagar was commissioned during the year. 1997 - The Company's Solvent Extraction plant at Jamnagar was shut down for about 1 month on account of cyclonic effect. The plant recommissioned production from 9th July 1998. - The Company undertook a modernisation cum expansion of capacity at its chemical plant. The capacity was being increased by modifying the extraction chamber and increasing the capacities of condensers and toasters. - In addition, capacity refined oil was to be augmented by adding boiler of adequate capacity. 2003 -The Company has recommended dividend @5% i.e. Rs 0.50 per equity share of Rs10/- 2007 -The Company has designate the following e-mail ID for the purpose of investor grievance: E-mail ID - iel@vsnl.com. 2019 -Company name has changed to IEL Ltd. from Indian Extractions Ltd.. 2023 -The Company has splits its face value from Rs. 10/- to Rs. 1/-.