Evonith Steel Plans ₹2,000 Crore Fundraise to Cut Debt and Finish Projects.

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

Of the total funds, ₹1,750 crore will be used to refinance existing borrowings, helping the company reduce its debt burden and improve its capital structure. The remaining ₹250 crore has been earmarked for completing ongoing projects and adding new production lines as part of its growth strategy.

The official said the company recently secured ₹1,750 crore in fresh debt from lenders including Standard Chartered, JP Morgan and IDFC First Bank. The refinancing is expected to lower borrowing costs, extend debt maturity and provide greater financial flexibility for future operations.