Tata Sponge, which has its manufacturing facility at Bilaipada (in Joda Block of Keonjhar District in Orissa), was initially set up as a joint venture company between Tata Steel and the Industrial Promotion and Investment Corporation of Orissa Limited (IPICOL), in the name of as Ipitata Sponge Iron Limited. It has moved on since, becoming an associate company of Tata Steel following the former’s acquisition of IPICOL’s stake in 1991. The name of the Company has been changed to Tata Sponge Iron Limited w.e.f 24th September, 1996. Subsequently, w.e.f. 28th August, 2012, Tata Sponge Iron Limited became the subsidiary of Tata Steel Limited.