Steel Exchange India Limited announced a private placement to issue 82,727,272? convertible warrants at an issue price of INR 2.75 per warrant for the gross proceeds of INR 227,499,998 on November 18, 2023. The transaction will include participation from new investors Neo Special Credit Opportunities Fund for ?13,223,636?, True North Credit Opportunities Fund I for ?4,958,182?

warrants, Kolluri Impex Private Limited for ?18,181,818? warrants, Sahi Trading Private Limited for ?10,000,000? warrants, Shakti International LLP for ?18,181,818?

warrants and KGR Resources LLP for 18,181,818? warrants. The transaction has been approved by the shareholders of the company and is subject to shareholders approval which is to be held on December 18, 2023.