IDCOL was established in March, 1962 as a Government of Odisha Undertaking. Government of Odisha holds the entire share capital of the Corporation .Its registered office is situated in Bhubaneswar. The corporation has no external borrowing, hence a debt free company. It is basically engaged at present managing its own mineral based industries including operation of mine. It has good track record of setting up and managing industries in the State over a period of more than half a century. It is presently focusing on consoliding its core activity of mineral based industries and venturing into a new area of beach sand mining.