JSL Invests ₹102.7 Cr to Transform Supply Chain Financing with M1xchange

Jindal Stainless Limited (JSL), along with its subsidiary, Jindal Stainless Steelway Limited (JSSL), has acquired a 9.62% stake in M1xchange, a leading digital platform for supply chain financing. This investment, worth ₹102.7 crore, is aimed at helping businesses - especially MSMEs - get faster and more affordable credit.

M1xchange operates as a Trade Receivables Discounting System (TReDS) platform, regulated by the RBI. It connects MSMEs with banks and financiers, allowing them to auction their invoices online and receive payments at competitive rates. This process helps businesses get immediate cash flow instead of waiting for weeks or months to be paid. So far, M1xchange has processed over ₹1.6 lakh crore in invoice discounting, supporting 48,000+ MSMEs, 2,000+ corporates, and 65+ banks.

For JSL, this partnership is not just an investment but a way to enhance liquidity in the market, making it easier for vendors and customers to access working capital. By leveraging M1xchange’s digital capabilities, JSL will also streamline its own financial operations, speed up payments, and reduce its overall working capital cycle. 

JSL’s Managing Director, Abhyuday Jindal, emphasized the importance of this investment, stating that timely and affordable financing is crucial for businesses, especially MSMEs. He highlighted that this deal will not only empower JSL’s partners but also strengthen the company’s balance sheet. JSL’s Executive Director and CFO, Anurag Mantri, added that combining JSL’s industry reach with M1xchange’s financial solutions - like its GIFT City offerings for global trade financing - will transform how businesses access credit.

M1xchange operates through its main platform as well as two subsidiaries: M1NXT and Mynd Fintech. M1NXT focuses on international trade finance through GIFT City, offering cross-border funding in foreign currencies. Mynd Fintech provides channel financing by connecting businesses with banks and factoring companies. Together, these platforms ensure that companies of all sizes have access to flexible and efficient financial solutions.

This partnership is expected to bring long-term benefits, making financing easier for businesses across India and beyond. The deal is set to be completed in the first quarter of FY26, marking a significant step toward a more digital, transparent, and efficient supply chain financing system.