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Today Date : Friday, May 24, 2024

Steel exchange India Ltd to raise Rs.600 cr

Steel exchange India Ltd to raise Rs.600 cr

BSE (534748) and NSE (SEIL) listed Steel Exchange India Ltd has approved fund raising through issuance of equity shares or securities convertible into equity shares, convertible debentures or warrants, unsecured, secured non-convertible debentures or a combination, etc. up to an aggregate amount of Rs.600 crores by way of Rights Issue or FPO (Further Public Offering) or private placement or qualified institutions placement (QIP) or through any other mode.

The Board had approved the proposal for Sub division/ Split of Equity Shares of the Company from face value of Rs.10 each into equity shares of face value of Re. 1 each which will be traded from12th July 2022. Steel Exchange India Limited (SEIL) is the flagship company of the Vizag Profiles Group.

Established in 1999, SEIL is a leading manufacturer of TMT Rebars under the brand SIMHADRI

TMT.The company has the largest private integrated steel plant in the two Telugu States, Andhra

Pradesh and Telangana.