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Steel Exchange India Limited announced that its Board of Directors has approved a proposal to raise funds aggregating up to ₹700 crore, subject to requisite statutory and regulatory approvals. The funds may be raised through various instruments including equity shares, debt instruments, convertible warrants, or Non-Convertible Debentures (NCDs).

The Company has also achieved investment-grade credit rating status, with Infomerics Valuation and Rating Limited (IVR) assigning and upgrading its bank facilities aggregating ₹398.56 crore. Specifically, its Listed NCDs received a rating of IVR BBB-/Stable, Long Term Bank Facilities (Term Loans) were rated IVR BBB-/Stable, Long Term Bank Facilities (Cash Credit) were rated IVR BBB-/Stable, and Short Term Bank Facilities (Letter of Credit) were upgraded to IVR A3.

The proposed fund raise is intended to strengthen the Company's balance sheet, enhance financial flexibility, and support long-term growth initiatives, including entry into specialty and value-added steel products under the Production Linked Incentive (PLI) Scheme. The management stated that the fund raise and rating upgrade reflect a focus on strengthening the financial foundation, improving operational efficiency, reducing financial stress, and enabling cost-efficient growth. The improved rating is expected to lower borrowing costs and aid in efficient fund raising and working capital management.