News

Steel Exchange India will hold a meeting of the Board of Directors of the Company on 25 May 2026.

Steel Exchange India has received, on 05 May 2026, renewal of approval from the Military Engineer Services (MES), under the Ministry of Defence, for the supply of its TMT bars. This approval pertains to the manufacturing of TMT bars under the brand SIMHADRI TMT, of grades Fe 500D and Fe 500D HCRM, in the size range of 8 mm to 32 mm, produced at the Company`s integrated steel plant located at Sriram Puram, Vizianagaram, Andhra Pradesh, using TEMPCORE technology.

Steel Exchange India has allotted 4.40 crore convertible equity warrants at Rs 9.45 per warrant on preferential basis, aggregating to Rs 10.40 crore on receipt of 25% subscription amount. The company also allotted 14.10 lakh equity shares on conversion of 2,82,97,870 existing warrants following receipt of balance subscription money aggregating to Rs 29.92 crore. Commenting on the update, the management of Steel Exchange India said: � The warrant allotment and subsequent conversion represent a strategic step in strengthening our capital base and enhancing financial flexibility. This positions us well to scale operations, improve supply chain efficiencies and pursue growth opportunities across the steel value chain, while continuing to build long-term value.�

Steel Exchange India has redeemed Rs 43.19 crore towards Non-Convertible Debentures (NCDs) in a single tranche, representing approximately 13% of its total outstanding debt. This follows the Company`s repayment of Rs 28 crore over the last two quarters. With this, total debt reduction stands at Rs 71.19 crore in the recent period, highlighting continued progress in deleveraging supported by strong operational cash flows.

Steel Exchange India has received an aggregate amount of Rs 75 crore from India Coke and Power and IMR Steel (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 Rs 350 rore through issuance of convertible warrants on a preferential basis, as approved by the Board of Directors on 04 March 2026.