Jindal Stainless acquires 9.62% stake in M1xchange to boost MSME financing

By Gloria Methri

Jindal Stainless, India’s largest stainless-steel manufacturer, has acquired a 9.62% stake in M1xchange, an RBI-licensed TReDS platform, through a mix of primary capital and secondary share purchases. This investment will boost digital supply chain financing by enhancing liquidity and expanding MSMEs’ access to working capital.

Additionally, Jindal Stainless will leverage M1xchange’s platform to digitise its financing operations, streamline payments, and optimise its working capital cycle, further advancing its digital transformation efforts.

Commenting on this development, Jindal Stainless Managing Director Abhyuday Jindal said, “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.”

Anurag Mantri, ED and CFO at Jindal Stainless remarked, “The scale and reach of Jindal Stainless combined with the full suite of digital supply chain financing solutions at M1Xchange, including GIFT City offerings, would revolutionize traditional financing practices and pave the way for cheaper credit access for its entire global value chain, including the deep-tier channel”

“This investment by Jindal Stainless Limited marks a significant milestone in M1xchange’s journey of innovation, technology, and growth. Our suite of supply chain finance solutions, including TReDS for the domestic market, ITFS (GIFT City) for the global market, and our Channel Finance solution through Mynd FinTech, will empower JSL and its ecosystem partners to enhance growth and competitiveness. This strategic partnership will greatly expand access to working capital solutions for JSL’s suppliers and customers, both across India and globally,” said Sundeep Mohindru, Promoter & Director, M1xchange.

M1xchange connects MSMEs with banks and financiers through its TReDS marketplace, enabling faster access to capital via a transparent invoice auction system. Its subsidiaries, M1NXT and Mynd Fintech, further expand its financial offerings—M1NXT operates as an International Trade Finance System (ITFS) from GIFT City, facilitating cross-border financing. At the same time, Mynd Fintech provides channel finance solutions. With this ecosystem, M1xchange continues to enhance liquidity and financing options for MSMEs, corporates, and global businesses.