Steel Exchange India Secures ₹350 Cr Refinancing Facility
Steel Exchange India secures ₹350 Cr refinancing at lower interest, improving cash flows and supporting growth. The company has prepaid existing high-cost debts and NCDs.
Securing a large refinancing facility with significantly lower interest rates will substantially reduce financial costs and improve the company's financial stability.
The announcement highlights successful refinancing at more favorable terms, leading to substantial savings and improved financial flexibility.
* Steel Exchange India Limited has secured ₹350 crore of refinancing facilities from a consortium of financial institutions. * The refinancing includes Kotak Mahindra Investments Limited, Oxyzo Financial Services Limited and Kotak Credit Opportunities Fund. * ₹150 crore has been disbursed and used for prepayment of existing high-cost NCDs and a term loan. * The remaining ₹200 crore will be disbursed on or before 10 October 2025 to acquire outstanding NCDs. * The company prepaid a Term Loan of ₹25 crore, fully pre-redeemed secured unlisted NCDs of ₹84.30 crore, and partially redeemed secured Listed NCDs amounting to ₹32.35 crore on 30 September 2025. * The outstanding principal of Listed NCDs is now ₹198.56 crore, which will be acquired by Kotak Credit Opportunities Fund on or before 10 October 2025. * The refinancing results in a lower interest rate (reduced by approximately 5.50%), improved terms (extended repayment tenure of five years up to September 2030), and expected additional cash flow of approximately ₹130 crore till FY28. * Mr. Suresh Kumar Bandi, Joint Managing Director, stated that the refinancing will ease the interest burden, improve cash flows, and provide flexibility to support growth.
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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.