Steel Exchange India Limited (NSE: STEELXIND | BSE: 534748), an integrated steel manufacturer, announced that its Board of Directors has approved a proposal to raise funds of up to ₹700 crore, subject to necessary statutory and regulatory approvals. The proposed fund raise may be undertaken through one or more permitted instruments, including equity shares, equity-linked instruments, debt instruments, convertible equity warrants, convertible securities, non-convertible debentures (NCDs), or a combination thereof, in accordance with applicable laws. The capital infusion is intended to strengthen the company’s balance sheet, improve financial flexibility, and support long-term business plans.
In a separate development, Steel Exchange India Limited has achieved investment-grade credit rating status. Infomerics Valuation and Rating Limited (IVR) has assigned and upgraded the company’s bank facilities, citing improvements in operational performance, financial discipline, balance sheet strength, and debt-servicing capability.
The improved credit profile is expected to lower borrowing costs, support more efficient fund raising, and enhance working capital management. The company plans to utilise the proposed capital raise to refinance high-cost debt, which is expected to ease interest expenses and improve cash flows.
The funds will also support expansion initiatives, including entry into specialty and value-added steel products under the Government of India’s Production Linked Incentive (PLI) Scheme, aligned with the Atmanirbhar Bharat programme.
Commenting on the development, the Promoter and Managing Director of Steel Exchange India Limited said that the Board’s approval reflects the company’s focus on strengthening its financial foundation to support growth and the production of environmentally and economically sustainable steel products. He added that refinancing at lower interest rates will provide greater flexibility to pursue future expansion plans.
Steel Exchange India Limited (SEIL), part of the Vizag Profiles Group, is a prominent manufacturer of TMT rebars under the ‘SIMHADRI TMT’ brand. Established in 1999, the company has evolved from a trading and online steel platform to a fully integrated steel manufacturer with operations concentrated in Andhra Pradesh and Telangana.
SEIL operates a vertically integrated steel and power facility in Vizianagaram District, near Visakhapatnam. Its plant includes sponge iron, billet manufacturing, a rolling mill, and captive power generation—enabling seamless backward and forward integration in long steel production. With a strong supply record to the Indian Armed Forces and key infrastructure projects, SEIL is recognized for its commitment to quality and reliability. In alignment with India’s ‘Atmanirbhar Bharat’ initiative, the company plans to expand into specialty steel production under the PLI scheme to help reduce imports and enhance its value-added offerings.
