Steel Exchange India Limited has raised ₹40.32 crore through a mix of fresh warrant allotment and conversion of existing warrants into equity shares.
Steel Exchange India Limited announced on May 4, 2026, a capital strengthening exercise totaling ₹40.32 crore through a combination of fresh warrant allotment and conversion of existing warrants into equity shares.
The Visakhapatnam-based integrated steel maker has allotted 4,40,00,000 convertible equity warrants on a preferential basis at ₹9.45 per warrant, raising ₹10.40 crore on receipt of 25 per cent of the subscription amount. Simultaneously, the company converted 2,82,97,870 existing warrants — issued earlier at ₹14.10 per warrant — into equity shares after receiving the balance subscription money of ₹29.92 crore.
The company said the proceeds are intended to support operational expansion, improve working capital efficiency, and pursue strategic growth opportunities.
The announcement comes on a day when STEELXIND shares traded at ₹10.01 on the NSE, up 0.30 per cent from the previous close of ₹9.98. The stock touched an intraday high of ₹10.13 and a low of ₹9.95. Total traded volume stood at 5.51 lakh shares, valued at approximately ₹0.55 crore. The company’s total market capitalization stood at ₹1,248.47 crore as of 11.03 am.
The stock has been a notable outperformer over the past month, delivering returns of 32.58 per cent against the Nifty 50’s 6.55 per cent over the same period. On a one-year basis, the stock returned 23.73 per cent, compared to the Nifty 50’s -0.60 per cent. However, the three-year picture remains weak, with the stock down 38.02 per cent against the index’s 32.57 per cent gain. The 52-week range runs from ₹7.00 to ₹11.55, placing the current price in the upper half of that band.
Steel Exchange India, part of the Vizag Profiles Group, manufactures TMT rebars under the ‘SIMHADRI TMT’ brand and operates an integrated steel plant in Vizianagaram district near Visakhapatnam. The company also supplies steel to the armed forces and critical infrastructure projects, and is exploring specialty steels under the government’s PLI scheme.
Published on May 4, 2026