PNN
Vishakhapatnam (Andhra Pradesh) [India], April 21: Steel Exchange India Limited (NSE: STEELXIND, BSE: 534748), one of the leading integrated steel manufacturers in South India and a trusted name in TMT rebars under the brand 'SIMHADRI TMT', has received an aggregate amount of ₹75 Crore from M/s India Coke and Power Private Limited and M/s IMR Steel Private Limited (IMR Group-a leading international metals and mining conglomerate) towards subscription of convertible warrants under its preferential issue.
This receipt forms part of the Company's proposed fund raise of up to ₹350 Crore through issuance of convertible warrants on a preferential basis, as approved by the Board of Directors on March 04, 2026.
Key Details of the Preferential Issue
- Total Issue Size: Up to ₹350 Crore
- Tenure: Convertible within 18 months from the date of allotment
- Amount Received: ₹75 Crore (towards subscription)
The investment is part of a broader strategic capital infusion and is expected to support operational efficiency, supply chain strengthening, debt reduction and overall competitiveness including access to global sourcing of key raw materials such as metallurgical coke, coking coal, non-coking coal and ferrous scrap.
This also aligns with the Company's positioning as an integrated steel manufacturer and supports its ability to cater to growing steel demand in India, while strengthening long-term linkages within the steel value chain.
Commenting on the update, the management of Steel Exchange India Limited said:
"We remain focused on strengthening our operational capabilities and building a more integrated and resilient business. With improving demand dynamics in the steel sector, we see strong opportunities to scale efficiently and enhance long-term value creation."
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)
