Steel Exchange India Limited has completed the scheduled redemption of its Listed, Rated, Secured Non-Convertible Debentures (NCDs) on January 7, 2026, and submitted the required details to BSE Limited and National Stock Exchange under Regulation 57(1) of SEBI (LODR) Regulations, 2015. The company, which operates an integrated steel plant in Sreerampuram, Vizianagaram District, provided comprehensive information about the redemption completion and regulatory compliance.

Redemption Completion Details

The scheduled redemption was executed as a partial redemption by face value reduction, with the company successfully completing the process on the designated date. The redemption involved reducing the face value of existing NCDs while maintaining the debenture structure.

Regulatory Compliance

The company submitted detailed information to both BSE Limited and National Stock Exchange of India Limited, ensuring full compliance with regulatory requirements. The submission was made under Regulation 57(1) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Corporate Operations

Steel Exchange India Limited continues to operate its integrated steel plant facility in Sreerampuram, L.Kota Mandal, Vizianagaram District. The company maintains its registered office in Hyderabad and corporate office in Visakhapatnam, ensuring proper operational oversight and regulatory compliance across its business operations.

Financial Impact

The successful completion of the scheduled redemption demonstrates the company's commitment to honoring its debt obligations while managing its capital structure effectively. With ₹195.01 crores still outstanding in secured NCDs, the company maintains a structured approach to debt management with the remaining debentures scheduled to mature on October 6, 2030.

Steel Exchange India has received comprehensive credit rating upgrades from Infomerics Valuation and Rating Limited, as communicated to stock exchanges on December 31, 2025. The company informed BSE and NSE about the enhanced ratings across multiple financial instruments and facilities, marking a significant improvement in its credit profile.

Rating Upgrades and Assignments

Infomerics Valuation and Rating Limited has assigned and upgraded ratings across various financial instruments totaling ₹398.56 crores. The rating actions demonstrate improved creditworthiness across the company's debt portfolio:

Significant Rating Improvements

The most notable upgrade involves the Non-Convertible Debentures worth ₹198.56 crores, which moved from CARE BB+/Stable to IVR BBB-/Stable. This represents a substantial improvement in credit quality assessment. The company's Long Term Bank Facilities for Cash Credit also received an upgrade from IVR BB+/Stable to IVR BBB-/Stable.

The Short Term Bank Facilities for Bank Guarantee worth ₹40.00 crores were upgraded from IVR A4+ to IVR A3, indicating improved short-term creditworthiness and liquidity position.

Rating Significance and Impact

The IVR BBB-/Stable rating assigned to long-term instruments indicates adequate credit quality with stable outlook. This rating suggests that Steel Exchange India maintains satisfactory capacity to meet its financial commitments across its ₹358.56 crores of long-term facilities.

The comprehensive rating upgrades reflect the company's improved financial profile and enhanced ability to service its debt obligations. These improved ratings are expected to positively impact the company's borrowing costs and provide better access to capital markets for future financing requirements.