Steel Exchange to raise ₹350 crore via preferential issue

The IMR Group (IMR), a Switzerland-based international metals and mining conglomerate, has announced an investment of ₹300 crore in Steel Exchange India (SEI) through subscription to share warrants. The investment will be made through IMR’s Indian entities — India Coke and Power, and IMR Steel.

Through this investment, IMR aims to leverage its global sourcing capabilities for raw materials — including metallurgical coke, coking coal, non-coking coal, and ferrous scrap — to enhance SEI’s operational efficiency, supply chain security, and competitiveness.

“By combining IMR’s global sourcing strength with SEI’s manufacturing platform, we see a powerful opportunity to accelerate growth, optimize operations, and create substantial value for all stakeholders,” said IMR’s Group CEO and Chairman Anirudh Misra.

Steel Exchange manufactures steel products and allied activities at its plant close to Visakhapatnam, Andhra Pradesh, where it has capacity to produce sponge iron, billets, TMT/rebars, and power.