Steel Exchange rises on proposal to raise funds aggregating to Rs 350 crore

Steel Exchange India advanced 3.96% to Rs 8.66 after the company announced that its board will meet on Wednesday (04 March 2026) to consider a proposal to raise funds amounting to Rs 350 crore.

At the same meeting, the board would determine the issue price, class of securities, number of securities, identification of proposed allottees/investors, mode of issue and other related terms and conditions, subject to shareholders approval.

The announcement was made during market hours today.

Steel Exchange India is primarily engaged in the manufacturing of TMT bars, apart from billets, ingots, and power generation. The company also deals in the sale and purchase of steel products through its trading division and is recognized as one of the largest dealers for Rashtriya Ispat Nigam.

 

The company's net profit declined 85.62% to Rs 2.28 crore on a 26.61% fall in revenue to Rs 240.35 crore in Q3 FY26 as compared with Q3 FY25.

Powered by Capital Market - Live News