Steel Exchange India Limited Secures Investment Grade Rating, Greenlights Rs 700 Crore Fund Raise

The board approved fundraising up to Rs 700 crore via equity shares, debt instruments, convertible warrants, NCDs, or combinations, pending approvals. This move aims to enhance financial flexibility, refinance high cost debt, and support expansion into specialty steel products under the PLI scheme, aligning with Atmanirbhar Bharat.
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Key Highlights

• Board approves Rs 700 crore raise for growth and debt optimization.
• IVR upgrades ratings to BBB-Stable for Rs 198.56 crore NCDs (from CARE BB Stable).
• Long-term bank facilities (Rs 150 crore term loans) assigned BBB-Stable.​
• Cash credit (Rs 10 crore) and LC (Rs 40 crore) rated BBB-Stable and A3, respectively.
• ​Upgrade driven by better operations, balance sheet strength, debt servicing.

Management Commentary
Promoter MD hailed the rating as a "defining moment," enabling lower borrowing costs and sustainable products. Joint MD noted improved discipline and capital access at competitive rates.
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Source: Steel Exchange India Limited Press Release