Steel Exchange India Limited has raised ₹75 crore through the allotment of convertible warrants to entities of the IMR Group, marking the initial tranche of its planned ₹350 crore fundraising programme.
The capital infusion has been received from India Coke and Power Private Limited and IMR Steel Private Limited, both part of the IMR Group, as part of a preferential issue approved by the company’s board earlier in March 2026.
The warrants issued under this arrangement are convertible into equity shares within a period of 18 months, providing flexibility for investors while enabling the company to strengthen its immediate capital position.
The company stated that the funds will be utilised to enhance operational efficiency, optimise supply chains, and reduce debt. The investment is also expected to improve access to critical raw materials such as metallurgical coke, coking coal, non-coking coal, and ferrous scrap, supporting long-term operational resilience.
This ₹75 crore infusion forms part of a broader plan to raise up to ₹350 crore through preferential issuance, aimed at improving financial flexibility and supporting growth initiatives.
Management indicated that the capital raise aligns with the company’s strategy to strengthen its integrated steel operations and position itself to benefit from rising demand in the domestic steel market.
