Jindal Stainless, India’s largest stainless steel manufacturer, along with its subsidiary Jindal Stainless Steelway Limited, has acquired a 9.62% stake in M1xchange, an RBI-licensed Trade Receivables Discounting System (TReDS) platform. This investment, involving both primary capital infusion and secondary share purchases, aims to facilitate better access to working capital for businesses, particularly micro, small, and medium enterprises (MSMEs), while advancing digital supply chain financing in India.
By joining forces with M1xchange, Jindal Stainless aims to enhance liquidity within the supply chain, enabling vendors and customers to access affordable credit more efficiently. The partnership is also expected to streamline financial operations, accelerate digital transformation, and optimize working capital cycles, contributing to improved operational efficiency.
Abhyuday Jindal, Managing Director of Jindal Stainless, highlighted the significance of accessible financing for business growth. “This investment serves a dual purpose—supporting our domestic and international channel partners while strengthening our financial position. It aligns with our commitment to fostering industry collaborations and driving inclusive economic progress,” he said.
Anurag Mantri, Executive Director and CFO at Jindal Stainless, emphasized the combined potential of Jindal Stainless’ reach and M1xchange’s digital financing solutions. He noted that the collaboration, including offerings from GIFT City, would help modernize traditional financing practices and improve credit access across the company’s global value chain.
Sundeep Mohindru, Promoter & Director of M1xchange, stated that the partnership marks an important step in the company’s growth and innovation. “With our range of supply chain finance solutions, including TReDS for domestic markets, ITFS at GIFT City for international markets, and Channel Finance through Mynd Fintech, we aim to enhance financial accessibility for Jindal Stainless and its ecosystem partners,” he said.
M1xchange facilitates connections between MSMEs, banks, and financial institutions, allowing businesses to access capital more efficiently. Through its TReDS platform, MSMEs can auction invoices via a transparent online bidding process, securing financing on favorable terms.
Additionally, M1xchange operates two subsidiaries—M1NXT, which provides cross-border trade financing solutions through GIFT City, and Mynd Fintech, which offers channel finance solutions. These platforms further expand financial options for businesses, reinforcing M1xchange’s commitment to digital financial innovation.
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