Steel Exchange India Secures ₹75 Crore from Convertible Warrants Subscription
Steel Exchange India raises Rs 75 cr via issue of convertible warrants
Business Standard
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Steel Exchange India has raised ₹75 crore (approximately $9 million USD) from India Coke and Power and IMR Steel through a subscription of convertible warrants. This funding is part of a larger initiative to raise up to ₹350 crore (approximately $42 million USD) approved by the Board of Directors on March 4, 2026.
- 01Steel Exchange India raised ₹75 crore from two investors.
- 02The funding is part of a larger plan to raise ₹350 crore.
- 03Convertible warrants are being issued on a preferential basis.
- 04The Board approved this funding strategy on March 4, 2026.
- 05IMR Steel is part of a leading international metals and mining group.
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Steel Exchange India has successfully secured ₹75 crore (approximately $9 million USD) from India Coke and Power and IMR Steel, a prominent player in the international metals and mining industry. This funding comes from the subscription of convertible warrants under a preferential issue. The total fund-raising effort aims to gather up to ₹350 crore (approximately $42 million USD), a strategy that received approval from the company's Board of Directors on March 4, 2026. The issuance of convertible warrants allows the company to attract significant investments while providing investors with the option to convert their warrants into equity at a later date.
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The funds raised will enhance Steel Exchange India's capabilities, potentially leading to job creation and improved services in the metals sector.
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