Jindal Stainless, along with its wholly owned subsidiary, Jindal Stainless Steelway, has acquired 9.62% stake in M1xchange. This deal involved a combination of primary capital and a secondary purchase of shares from existing shareholders. With this investment, M1xchange will continue to accelerate enabling seamless access to working capital for MSMEs and corporates, further strengthening the digital supply chain financing ecosystem in India. The company’s support will enhance liquidity in the ecosystem, helping vendors and customers gain faster access to affordable credit.
Additionally, this partnership will also assist the company digitise the financing operations, simplifying payment processes, accelerating its broader digitalisation efforts, as well as reduce the overall working capital cycle, thereby enhancing operational efficiency across the supply chain structure.
Jindal Stainless (JSL) is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
| Company Name | CMP |
|---|---|
| Tata Steel | 210.95 |
| JSW Steel | 1257.25 |
| SAIL | 176.45 |
| Jindal Stainless | 775.60 |
| APL Apollo Tubes | 2022.35 |
| View more.. | |
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