Jindal Stainless, India’s largest stainless steel manufacturer, along with its wholly owned subsidiary Jindal Stainless Steelway Limited, has acquired a 9.62% stake in M1xchange — a leading RBI-licensed Trade Receivables Discounting System (TReDS) platform. The strategic acquisition, announced on March 26, 2025, combines primary capital infusion with a secondary purchase of shares from existing stakeholders.
This investment aims to strengthen the digital supply chain financing ecosystem in India, offering faster and more affordable credit access to MSMEs and corporates. Jindal Stainless will also benefit from digitised financing operations, simplified payments, and improved working capital cycles through this partnership.
Abhyuday Jindal, Managing Director of Jindal Stainless, stated, “Access to timely and affordable financing is a crucial growth enabler. This investment empowers our global channel partners and enhances liquidity while aligning with our vision of inclusive economic growth.”
Anurag Mantri, ED and CFO, highlighted that this partnership would revolutionize traditional financing through a suite of digital solutions, including GIFT City offerings.
M1xchange, through platforms like M1NXT and Mynd Fintech, facilitates digital invoice financing and cross-border credit, having already enabled over ₹1.6 lakh crore in invoice discounting. With 65+ banks, 2,000+ corporates, and 48,000+ MSMEs onboarded, the platform plays a key role in easing working capital challenges for small businesses.
Deloitte India advised Jindal Stainless on the transaction, while Dentons Link Legal and Stratage Law Partners provided legal support.
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