Steel Exchange India Limited announced a capital enhancement initiative amounting to ₹40.32 crore on May 4, 2026. This effort will involve a combination of fresh warrant allotments and the conversion of existing warrants into equity shares.
The Visakhapatnam-based company issued 4,40,00,000 convertible equity warrants at a preferential rate of ₹9.45 per warrant, generating ₹10.40 crore upon receiving 25% of the subscription amount. Concurrently, the firm converted 2,82,97,870 existing warrants—originally issued at ₹14.10 per warrant—into equity shares after collecting the remaining subscription amount of ₹29.92 crore.
Proceeds from this capital infusion are aimed at bolstering operational growth, enhancing working capital efficiency, and pursuing strategic expansion opportunities.
On the date of the announcement, shares of Steel Exchange India (NSE: STEELXIND) were trading at ₹10.01, reflecting an increase of 0.30% from the previous close of ₹9.98. The stock reached an intraday high of ₹10.13 and a low of ₹9.95, with a total trading volume of 5.51 lakh shares valued at approximately ₹0.55 crore. The company’s market capitalization stood at ₹1,248.47 crore as of 11:03 AM.
Over the past month, the stock has seen a significant increase, delivering returns of 32.58% compared to the Nifty 50’s 6.55% during the same period. Year-on-year, the stock has returned 23.73%, while the Nifty 50 has decreased by 0.60%. However, performance over a three-year horizon shows the stock declining by 38.02% against the Nifty 50’s increase of 32.57%. The 52-week price range for the stock has been between ₹7.00 and ₹11.55, with the current price positioned in the upper half of that range.
Steel Exchange India, part of the Vizag Profiles Group, specializes in the manufacture of TMT rebars under the “SIMHADRI TMT” brand. The company operates an integrated steel plant in the Vizianagaram district, near Visakhapatnam, and supplies steel to the armed forces and critical infrastructure projects. Additionally, it is exploring opportunities in specialty steel under the government’s Production-Linked Incentive (PLI) scheme.
Published on May 4, 2026.
