STEEL EXCHANGE INDIA LIMITED has informed the Exchange regarding a press release dated April 21, 2026, titled "Steel Exchange India Limited has strengthened its capital base through an upfront Rs 75 crore infusion by allotting convertible warrants.".
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Steel Exchange India Limited has received ₹75 crore as an upfront infusion through allotment of convertible warrants to IMR Group entities (India Coke and Power Private Limited and IMR Steel Private Limited). This is part of a planned fund raise of up to ₹350 crore via preferential issue of convertible warrants, approved by the Board on March 4, 2026. The warrants are convertible within 18 months from allotment. The capital will be used for operational efficiency, supply chain strengthening, debt reduction, and sourcing of raw materials like metallurgical coke, coking coal, and ferrous scrap. IMR Group is a Swiss-headquartered international metals and mining conglomerate with presence in 17 countries.
The infusion strengthens the company's capital base and signals confidence from a prominent international metals and mining conglomerate. The upfront ₹75 crore receipt reduces immediate dilution risk while the convertible structure gives flexibility on timing of equity conversion.