Jindal Stainless Acquires 5.03% Stake in Mynd Solutions

26 Mar 2025 , 10:22 PM

Jindal Stainless Limited (JSL) approves purchase of 5.03% stake in Mynd Solutions Private Limited, a trade receivables discounting system (TReDS) and supply chain financing platform regulated by the Reserve Bank of India (RBI). The total investment of ₹102.7 crore will be through a mix of primary and secondary investments.

Post this acquisition, JSL and its wholly owned subsidiary, Jindal Stainless Steelway Limited (JSSL), will together own 9.62% stake in Mynd Solutions. The decision, made on March 25, 2025, at a meeting of the Board of Directors was made known in a regulatory filing.

The investment will be used to deepen JSL’s supply chain financing ecosystem and improve finance accessibility both for MSME and non-MSME vendors, digitise the financial operations, streamline payments as well as optimise working capital cycles.

Mynd Solutions currently runs M1xchange, which is currently the largest of the TReDS platforms and has enabled invoice discounting of over ₹1.6 lakh crore in value, covering upwards of 65 banks, 2,000+ corporates and 48,000+ MSMEs. The deal is likely to be concluded by the first quarter of the FY26.