Jindal Stainless Forges Strategic Alliance: Acquires 9.62% Stake in M1xchange

Jindal Stainless Limited (JSL) has made a strategic move by acquiring a 9.62% stake in M1xchange, a leading RBI-regulated Trade Receivables Discounting System (TReDS) platform. The deal, worth ₹102.7 crore, involves both primary capital injection and secondary share purchase. This acquisition, completed through JSL and its wholly-owned subsidiary Jindal Stainless Steelway Limited (JSSL), aims to enhance supply chain financing access for vendors and optimize working capital cycles. M1xchange has facilitated invoice discounting of over ₹1.6 lakh crore, connecting 65+ banks, 2,000+ corporates, and 48,000+ MSMEs. The transaction is expected to be finalized in Q1 FY26, marking a significant step in JSL's digital financing strategy.

 

Source: CNBC TV18, Jindal Stainless Limited