Steel Exchange India cuts interest costs, extends loan repayment

Steel Exchange India Limited announced the completion of refinancing facilities totaling ₹350 crores. This move, detailed in an intimation dated October 8, 2025, involves new funding from Kotak Mahindra Investments Limited, Oxyzo Financial Services Limited, and Kotak Credit Opportunities Fund. These funds were used to prepay/take over existing NCDs and term loans of ₹340 crores from Neo Asset Management Private Limited, True North Credit Opportunities Fund I, Neo Special Credit Opportunities Fund, and Capri Global Capital Limited.

The refinancing has resulted in a substantial interest rate reduction of approximately 5.50% compared to the previous borrowing cost of 18.75% per annum, leading to significant savings in finance costs. The new terms also include an extended repayment tenure of 5 years, now stretching until September 2030, which is projected to lower cash outflow by approximately ₹130 crores until FY 2028.

As of September 30, 2025, ₹150 crores of the sanctioned amount had been disbursed, with the remaining ₹199.17 crores disbursed on October 7, 2025. This initiative is designed to optimize the company's capital structure, reduce borrowing costs, and enhance liquidity, thereby boosting shareholder value.