Steel Exchange India Limited has successfully concluded its board meeting held on March 4, 2026, with the approval of a significant fund raising initiative through convertible warrants. The board has approved the issuance of up to 36,14,60,300 convertible warrants at ₹9.45 each, targeting a total fund raising of ₹350 crores on a preferential basis, with IMR Group emerging as the largest investor with a planned investment of ₹300 crores.

IMR Group's Strategic Investment Partnership

IMR Group, a Switzerland-headquartered leading metals and mining conglomerate with operations in over 17 countries, announced its strategic investment of ₹300 crores in Steel Exchange India Limited through subscription to share warrants. The investment will be made through IMR's Indian entities — India Coke and Power Private Limited and IMR Steel Private Limited. This capital infusion will strengthen SEIL's operations, optimize its debt structure, and position the company for accelerated growth.

Board Meeting Outcomes and Fund Raising Details

The board meeting, conducted from 10:30 A.M. to 11:45 A.M. in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has finalized multiple strategic decisions. The approved convertible warrants carry a face value of Re.1 each with a premium of ₹8.45 per warrant, determined according to Chapter V of SEBI ICDR Regulations.

Investor Allocation and Structure

The preferential allotment will be distributed among seven investors, comprising both promoter group and non-promoter entities. The allocation demonstrates a strategic approach to capital mobilization with significant participation from established industrial entities.

Strategic Value Creation and Operational Synergies

IMR Group operates a fully integrated metals platform spanning global mineral trading, mining, and downstream steel production. Through this investment, IMR will leverage its global sourcing capabilities for critical raw materials — including metallurgical coke, coking coal, non-coking coal, and ferrous scrap — to enhance SEIL's operational efficiency, supply chain security, and competitiveness. The partnership positions SEIL to capitalize on India's rapidly expanding steel demand.

Additional Board Decisions and Regulatory Framework

Beyond the convertible warrants approval, the board has also approved the Notice of 1st Extraordinary General Meeting for FY 2025-26 and related matters. Additionally, the board has sanctioned modifications to the terms and conditions of listed Non-Convertible Debentures (NCDs) issued by the company, specifically relating to security structure modifications. The convertible warrants and resulting equity shares will be subject to lock-in provisions as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, with each warrant carrying the right to subscribe to one equity share, exercisable in tranches during the 18-month period from allotment date.

Steel Exchange India Limited has received a disclosure from Vistra ITCL (India) Limited regarding changes in shareholding under SEBI's substantial acquisition regulations. The disclosure, dated March 04, 2026, pertains to pledge and release transactions involving the company's equity shares.

Shareholding Changes Overview

Vistra ITCL (India) Limited, acting in its capacity as debenture trustee, has reported changes in its shareholding position through a combination of pledge and release transactions. The trustee's total holding has increased from 25.51% to 26.42% of Steel Exchange India's share capital.

Transaction Details

The disclosure reveals specific details of the pledge and release activities undertaken by Vistra ITCL. The transactions occurred on February 26-27, 2026, involving both pledging of new shares and release of previously encumbered shares.

Company Share Capital Structure

Steel Exchange India Limited maintains a total equity share capital of 1,24,72,20,542 shares, each carrying a face value of Rs. 1.00. This information is based on the shareholding pattern available on BSE website for the quarter ended December 2025. The company's shares are listed on both BSE Limited and National Stock Exchange of India Limited.

Regulatory Compliance

Vistra ITCL has clarified that the primary responsibility for complying with SEBI's substantial acquisition regulations lies with the lender and debenture holder, not the trustee. However, the company has filed this disclosure under Regulation 29(2) as a precautionary measure, given its role as security trustee and debenture trustee.

Key Transaction Parameters

• Mode of Transaction: Pledge and release of equity shares
• Transaction Dates: February 26-27, 2026 (pledge), February 26, 2026 (release)
• Acquirer Status: Non-promoter entity
• Trustee Role: Debenture trustee capacity

The disclosure was signed by Jatin Chonani, Compliance Officer at Vistra ITCL (India) Limited, and submitted to both stock exchanges where Steel Exchange India's shares are listed.