Jindal Stainless along with its wholly owned subsidiary, Jindal Stainless Steelway, acquired 9.62% stake in M1xchange, India's leading RBI-licensed Trade Receivables Discounting System (TReDS) platform. 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.
Jindal Stainless' support will enhance liquidity in the ecosystem, helping vendors and customers gain faster access to affordable credit. Additionally, this partnership will also assist Jindal Stainless 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.