New Delhi : Jindal Stainless, India’s largest stainless steel manufacturer, along with its wholly owned subsidiary, Jindal Stainless Steelway Limited, 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. Commenting on this development, Managing Director, Jindal Stainless, Mr Abhyuday Jindal, said, “At Jindal Stainless, we recognise that access to timely and affordable financing is a crucial growth enabler for businesses, especially MSMEs. This investment will have a two-pronged advantage – it will empower our domestic and international channel partners – both upstream and downstream; and provide enhanced liquidity to further strengthen JSL’s balance sheets. It reflects our ethos of building a holistic ecosystem that aligns with our vision of strengthening industry partnerships and driving inclusive economic progress.”
