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Steel Exchange India Limited ( (IN:STEELXIND) ) just unveiled an update.
Steel Exchange India Limited has secured a Rs. 350 crore refinancing facility at more favorable terms, leading to substantial savings in finance costs. This strategic move involves prepayment and redemption of Non-Convertible Debentures and a Term Loan, with a significant reduction in interest rates, extended repayment tenure, and improved liquidity. The initiative underscores the company’s commitment to proactive liability management and positions it well for future growth, enhancing shareholder value and optimizing its capital structure.
More about Steel Exchange India Limited
Steel Exchange India Limited (SEIL), part of the Vizag Profiles Group, is a leading manufacturer of TMT rebars under the brand ‘SIMHADRI TMT’. Founded in 1999, the company has evolved from a steel trading and online platform into a trusted integrated steel manufacturer in Andhra Pradesh and Telangana.
Average Trading Volume: 661,240
Technical Sentiment Signal: Buy
Current Market Cap: 12.81B INR
Find detailed analytics on STEELXIND stock on TipRanks’ Stock Analysis page.