Steel Giant Evonith Secures ₹2,000 Cr to Bolster Balance Sheet

Evonith Steel plans to deploy ₹2,000 crore raised from the markets to strengthen its balance sheet and fund expansion initiatives, a company official said.

Out of the total amount, ₹1,750 crore will be used to refinance existing debt, aimed at reducing leverage and improving the company’s capital structure. The remaining ₹250 crore will be allocated toward completing ongoing projects and adding new production lines to support growth.

The official added that the company recently secured ₹1,750 crore in fresh debt from lenders such as Standard Chartered, JP Morgan, and IDFC First Bank. The refinancing is expected to lower borrowing costs, extend debt maturities, and enhance overall financial flexibility.

News by Rahul Yelligetti.