DBT Bureau
Pune, 2 Jan 2026
Steel Exchange India Limited said that its Board of Directors has approved a proposal to raise funds aggregating up to ₹700 crore, subject to requisite statutory and regulatory approvals.
In a significant milestone, the Company has also achieved investment-grade credit rating status, following the assignment and upgrade of its bank facilities by Infomerics Valuation and Rating Limited (IVR).
Fund Raising Proposal
The proposed fund raising of up to ₹700 crore may be undertaken through one or more permissible
instruments, including:
Equity shares
Equity-linked instruments
Debt instruments
Convertible equity warrants
Convertible securities
Non-Convertible Debentures (NCDs)
Or any combination thereof, as permitted under applicable laws
The proposed capital raise is intended to strengthen the Company’s balance sheet, enhance financial flexibility and support long-term growth initiatives.
Credit Rating Upgrade – Investment Grade Achieved
Infomerics Valuation and Rating Limited has assigned and upgraded the following loan facilities aggregating ₹ 398.56 crore
| Instrument / Facility | Amount (₹ Cr) | Current Rating | Previous Rating | Rating Action |
|---|---|---|---|---|
| Non-Convertible Debentures (Listed NCDs) | 198.56 | IVR BBB- / Stable | CARE BB+ / Stable* | Rating Upgraded |
| Long-Term Bank Facilities – Term Loans | 150.00 | IVR BBB- / Stable | — | Rating Assigned |
| Long-Term Bank Facilities – Cash Credit | 10.00 | IVR BBB- / Stable | IVR BB+ / Stable | Rating Upgraded |
| Short-Term Bank Facilities – Letter of Credit | 40.00 | IVR A3 | IVR A4+ | Rating Upgraded |
Management Commentary
Promoter & Managing Director, Steel Exchange India Limited, said:
“The Board’s approval for fund raising reflects our continued focus on strengthening the Company’s financial foundation for growth and expansion plans for producing environmentally and more economically sustainable products. Refinancing of existing high-cost debt at lower interest rates will ease our interest burden, improve cash flows, and provide flexibility to support future growth. Achieving investment-grade status is a defining moment for Steel Exchange India Limited. It validates the sustained efforts undertaken over recent quarters to improve operational efficiency, reduce financial stress, and reinforce our balance sheet. This milestone significantly enhances lender confidence and positions the Company for cost-efficient growth.” Joint Managing Director added:
“The rating upgrade and proposed fund-raising underscore our improved financial discipline, better working capital management, and consistent debt servicing track record. Investment-grade status will enable access to capital at competitive rates and further strengthen our financial flexibility.”
