Steel Exchange India Limited has successfully completed the allotment of 2,82,97,870 equity shares upon conversion of warrants on April 30, 2026, marking a significant capital expansion for the integrated steel manufacturer. The Board of Directors approved the allotment through circulation, following the warrant holder's payment of the balance consideration aggregating to Rs. 29,92,49,975/-.

Warrant Conversion Details

The conversion process involved Ms. Gunakala Vijayalakshmi, classified as a Non-Promoter Group investor, who exercised her rights to convert all outstanding warrants into equity shares. The warrant holder paid the balance consideration of Rs. 29,92,49,975/- (Rupee Twenty-nine crores Ninety-two Lakhs Forty-nine Thousand and Nine Hundred and Seventy-Five Only) to complete the conversion process.

Capital Structure Impact

The warrant conversion has resulted in a substantial increase in the company's share capital structure. Following the allotment, Steel Exchange India's issued, subscribed, and paid-up share capital increased from Rs. 1,24,72,20,542/- to Rs. 1,27,55,18,412/-, reflecting the company's expanded equity base.

Regulatory Compliance and Share Rights

The allotment was conducted in compliance with Regulation 30 and other applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The newly allotted equity shares will be issued in dematerialized form and shall rank pari passu with the existing equity shares of the company in all respects.

The original warrant allotment took place on October 31, 2024, on a preferential basis to the Non-Promoter Group, following approval from shareholders in their Annual General Meeting held on September 27, 2024. With the complete conversion of all 2,82,97,870 warrants, no warrants remain outstanding for future conversion.

The company has informed both BSE Limited (Scrip Code: 534748/960441) and National Stock Exchange of India Limited (Scrip Code: STEELXIND) about this development, ensuring full regulatory compliance and transparency in the capital restructuring process.

Steel Exchange India Limited has successfully completed a comprehensive debt reduction initiative through a two-phase Non-Convertible Debenture (NCD) redemption totaling ₹41.66 crore on April 22, 2026. The transaction comprised both partial voluntary prepayment and scheduled partial redemption, demonstrating the company's continued commitment to strengthening its balance sheet and reducing financial leverage.

Two-Phase NCD Redemption Structure

The company executed the debt reduction through a structured approach involving two distinct components. The partial voluntary prepayment amounted to ₹39.65 crore, while the scheduled partial redemption contributed ₹3.55 crore to the total transaction value.

Debenture Details and Timeline

The redeemed NCDs carry the ISIN INE503B07044 with an original due date of October 6, 2030. The scheduled partial redemption was originally due on July 7, 2026, but was completed ahead of schedule on April 22, 2026. The last interest payment on these debentures was made on April 7, 2026, just prior to the redemption transaction.

Strategic Debt Management Progress

This latest redemption builds upon Steel Exchange India's ongoing deleveraging strategy, which has achieved substantial progress in recent periods. The company has successfully reduced its long-term debt by over 20% since October 2025, reflecting strong cash flow generation capabilities and disciplined capital allocation. The systematic approach to debt reduction provides greater visibility on lower finance costs and improved earnings quality going forward.

Company Operations and Market Position

Steel Exchange India Limited operates as part of the Vizag Profiles Group, manufacturing TMT rebars under the SIMHADRI TMT brand. The company runs an integrated steel plant and power unit in Vizianagaram District, featuring comprehensive backward and forward integration capabilities including sponge iron, billet, rolling mill, and power generation facilities. This integrated approach enables the company to maintain operational efficiency while supporting its debt reduction objectives through consistent cash flow generation.