Archive · 2 Jan 2026
Steel Exchange of India Approves Rs 700 Crore Fund Raising
Steel Exchange of India's board has approved raising Rs 700 crore through various instruments like equity and debt.
The company also got better credit ratings from Infomerics Valuation and Rating (IVR).
This money will help the company improve its finances, pay off expensive loans, and grow by making special steel products.
The better ratings will help the company borrow money at lower costs.
After the announcement, the company's share price went down 1% in the day but has gone up 7% in the last month.
Steel Exchange of India's board approved fund raising of up to Rs 700 crore.
Funds will be raised through equity, debt, and other permissible instruments.
The company received credit rating upgrades from Infomerics Valuation and Rating (IVR).
Upgraded facilities include loans, non-convertible debentures, and short-term bank facilities.
Funds will be used to strengthen the balance sheet, refinance debt, and support growth initiatives.
- Who
- Steel Exchange of India
- What
- Approved fund raising of Rs 700 crore and received credit rating upgrades
- When
- Not specified
- Where
- India
- Why
- To strengthen financial foundation, refinance high-cost debt, and support growth initiatives
- Fund Raising Amount
- Rs 700 crore
- Credit Rating Agency
- Infomerics Valuation and Rating (IVR)
- Upgraded Loan Facilities
- Rs 398.56 crore
- Upgraded NCDs
- Rs 198.56 crore
- Upgraded Term Loans
- Rs 150 crore
- Upgraded Letters of Credit
- Rs 40 crore
- Upgraded Cash Credit
- Rs 10 crore
- Share Price Change
- Down 1% intraday, up 7% in a month