STEEL EXCHANGE INDIA LIMITED — Important, 18-12-2024: General Updates

The board of Steel Exchange India Limited has approved the slump sale of a non-core asset located in Kothapeta, Andhra Pradesh, aimed at reducing high-cost debt. The transaction is set to close by March 31, 2025, with total consideration amounting to ₹50 crore, including an advance payment of ₹9 crore. The asset, which generated no revenue in the prior financial year, will be sold to Ishi Steel Resources LLP. This strategic move aligns with the company's ongoing efforts to streamline operations and improve financial health. Investors should view this as a significant step towards debt reduction, enhancing the company's financial stability and future operational focus.