Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
Steel Exchange India Limited has strengthened its financial position with a ₹40.32 crore capital infusion, supported by fresh warrant issuance and conversion of existing warrants into equity shares. The company approved the allotment of 4.40 crore convertible equity warrants at ₹9.45 per warrant on a preferential basis, which will bring in ₹10.40 crore after receipt of 25% subscription money. It also converted 2.82 crore previously issued warrants into equity shares, adding ₹29.92 crore to the capital base.
The move is expected to improve Steel Exchange India’s balance sheet strength, working capital flexibility and future expansion capacity. For the domestic steel sector, the development signals stronger confidence in long steel demand, infrastructure supply and specialty steel growth. The company operates an integrated steel plant near Visakhapatnam and markets products under the SIMHADRI TMT brand, serving infrastructure and defence-linked applications.
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