Steel Exchange India Limited has announced the partial redemption of its Listed, Rated, Secured Non-Convertible Debentures (NCDs) through an official intimation to BSE Limited on December 31, 2025. The company, which operates an integrated steel plant in Sreerampuram, Vizianagaram District, provided detailed information about the redemption structure and its impact on the outstanding debentures.

Redemption Details

The partial redemption involves specific changes to the face value and number of outstanding NCDs. The company has structured the redemption to reduce the overall debt burden while maintaining the integrity of its debenture program.

Corporate Communication

This announcement follows previous intimations dated December 25, 2025 and December 29, 2025, indicating the company's systematic approach to communicating significant financial decisions to stakeholders. The communication was signed by Raveendra Babu M, Company Secretary & Compliance Officer, ensuring proper corporate governance protocols were followed.

Company Operations

Steel Exchange India Limited operates its integrated steel plant facility in Sreerampuram, L.Kota Mandal, Vizianagaram District. The company maintains its corporate compliance through proper documentation and timely intimations to the stock exchange, demonstrating adherence to regulatory requirements.

Next Steps

The company has indicated that further intimations regarding the redemption process or any other required communications will be made in due course. This suggests a phased approach to the debenture management strategy, with additional updates expected as the redemption process progresses.

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.