Steel Exchange India Limited has announced a series of capital market initiatives aimed at reinforcing its financial position and supporting future growth. The company has approved the issuance of convertible equity warrants along with the conversion of previously issued warrants into equity shares, together raising ₹40.32 crore.
As part of the approved measures, the company will allot 4.40 crore convertible equity warrants at a price of ₹9.45 per warrant on a preferential basis. This issuance will generate ₹10.40 crore upon receipt of 25% of the subscription amount. In addition, 2.82 crore existing warrants, originally issued at ₹14.10, have been converted into equity shares following the receipt of the remaining subscription amount, contributing ₹29.92 crore.
The capital infusion is expected to strengthen the company’s balance sheet and improve financial flexibility. It will also support operational expansion, enhance working capital management, and enable the company to pursue strategic growth opportunities in a competitive market environment.
With a stronger financial foundation, Steel Exchange India aims to capitalize on increasing demand in the domestic steel sector. The company is focused on scaling its operations while maintaining efficiency and delivering value-added products to customers across key industries.
Established in 1999, Steel Exchange India has evolved from a steel trading platform into a fully integrated steel manufacturer with a strong presence in Andhra Pradesh and Telangana. The company operates an integrated steel plant and power unit in Vizianagaram district, near Visakhapatnam. Its facilities include sponge iron production, billet manufacturing, rolling mills, and captive power generation, enabling end-to-end production of long steel products.
The company markets its products under the ‘SIMHADRI TMT’ brand, which has gained recognition for quality and reliability. It has a strong track record of supplying to infrastructure projects and the defence sector, reinforcing its position as a trusted supplier in critical applications.
Aligned with the Government of India’s ‘Atmanirbhar Bharat’ initiative, Steel Exchange India is expanding into specialty steel production under the Production Linked Incentive (PLI) scheme. This move is aimed at reducing dependence on imports and strengthening domestic manufacturing capabilities.
