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The Indian Steel and Wire Products. was established in 1920 by Sir Bahadur Inder Singh and is the first Wire Drawing Plant of India. The plant is strategically located near Tata Steel, the source of input material for Wire Drawing. ISWP as a Company was incorporated in 1935 under Companies Act, 1913. Rod Mill of ISWP was also setup in the same year.

JEMCO (Jamshedpur Engg. & Machine Manufacturing Company) was incorporated in 1934 under Companies Act. Rolls and Castings business at JEMCO was envisaged to cater to the requirement of Steel Industries. Subsequently, in 1991, JEMCO was merged with ISWP and is now operating as a Division of ISWP. The ISWP plant got closed in 1998 due to outstanding dues to Tata Steel and other stakeholders. However, JEMCO Division continued to be in operation due to its standalone nature of business. ISWP remained closed for a period of almost six years. During this closure period, the Company was declared 'sick' by the Board for Industrial & Financial Reconstruction (BIFR).

In 2003, the Company was taken over by Tata Steel, as per the rehabilitation scheme of BIFR. After takeover, the performance of the company was improved by institutionalizing operation excellence through TPM, QMS, EMS, TBEM etc. The company has shown consistent growth in its turnover and profit. In January 2013, the company was de-listed from Calcutta Stock Exchange and now is an unlisted company. Subsequent to delisting, the company was declared out of BIFR in November 2013.