Steel Exchange India Ltd

Steel Exchange India Secures ₹350 Crore Investment from IMR Group 💰🏭

• Steel Exchange India Ltd (SEIL) plans to raise ₹350 crore through a preferential issue.

• IMR Group, a Switzerland-based metals and mining company, will invest ₹300 crore via its Indian entities.

• The investment will strengthen SEIL's operations and optimize its debt structure.

• IMR Group will leverage global sourcing capabilities for raw materials like metallurgical coke, coking coal, and ferrous scrap.

• SEIL manufactures TMT Rebars under the brand 'SIMHADRI TMT'.

• Current production capacities: 220,000 TPA Sponge Iron, 362,000 TPA Billets, 357,000 TPA TMT/Rebars, and 60 MW Power.