IMR Group-backed investment to cut debt and strengthen the raw material supply chain.

Steel Exchange India Raises ₹75 Crore in First Tranche of ₹350 Crore Fundraising Plan.

Steel Exchange India Ltd has secured ₹75 crore in the first tranche of its planned ₹350 crore fundraise through the allotment of convertible warrants, as disclosed in a regulatory filing. The warrants were subscribed to by India Coke and Power and IMR Steel, both entities of the IMR Group. The preferential allotment was approved by the board on March 4, 2026, and the warrants are convertible within 18 months from the date of allotment. The capital infusion is part of a broader ₹350 crore plan aimed at reducing debt, improving access to key raw materials such as metallurgical coke and coal, and strengthening supply chain operations. The company said the funds will enhance operational efficiency and support its integrated steel manufacturing capabilities. Operating an integrated steel plant in Andhra Pradesh, Steel Exchange India produces TMT rebars under the ‘Simhadri TMT’ brand and plans to scale operations amid improving demand conditions in the domestic steel sector.