Steel Exchange India Completes ₹350 Crore Refinancing
Steel Exchange India completes ₹350 crore refinancing at significantly reduced interest rates, improving financial terms and extending repayment tenure.
Refinancing of debt with a substantial reduction in interest rates and extended repayment tenure will significantly improve the company's financial position and reduce cash outflow.
The announcement highlights successful refinancing at significantly reduced interest rates and improved terms, which is positive for the company's financial health.
* Steel Exchange India Limited completed a refinance of ₹350 crore on more favorable terms from Kotak Mahindra Investments Limited, Oxyzo Financial Services Limited, and Kotak Credit Opportunities Fund. * The refinance was used to prepay/takeover existing Non-Convertible Debentures (NCDs) and a term loan of ₹340 crore from Neo Asset Management Private Limited, True North Credit Opportunities Fund I, Neo Special Credit Opportunities Fund, Capri Global Capital Limited, and others. * ₹150 crore was disbursed on 30 September 2025 and used to partly prepay existing high-cost Debt/NCDs. * The balance of ₹199.17 crore was disbursed on 7 October 2025 from Kotak Credit Opportunities Fund and used for acquisition of Listed NCDs from existing holders Neo Special Credit Opportunities Fund & True North Credit Opportunities Fund I. * The new NCDs facilities carry an interest rate reduction of approximately 5.50% compared to the previous borrowing cost of 18.75% per annum. * Revised terms include an extended repayment tenure of 5 years from the date of sanction i.e. up to September 2030. * This shall result in lower cash outflow of approximately ₹130 crore till FY 2028 due to lower interest rates & longer repayment tenure.
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STEEL EXCHANGE INDIA LIMITED filed this with the NSE as a statutory disclosure, categorised under debt fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by STEEL EXCHANGE INDIA LIMITED. Read the original for the full detail.