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Shah Metacorp Ltd ( (IN:SHAH) ) has shared an announcement.
Shah Metacorp Limited’s board has approved raising up to Rs 50 crore through a rights issue of fully paid equity shares of face value Re 1 each, with key terms such as issue price, entitlement ratio, record date and payment structure to be finalized by a dedicated rights issue committee and disclosed later. The board also reconstituted this committee, cleared an investment of up to USD 100,000 for acquiring up to 50% shareholding in Shah Metacorp Holdings USA Inc., and sanctioned several related-party transactions, including the potential conversion of a loan from director-promoter Mona Shah into equity under the rights issue and provision of up to Rs 100 crore in working capital loans to the US entity, all subject to shareholder approval via postal ballot and necessary regulatory clearances, signaling an effort to strengthen the balance sheet and support international expansion.
More about Shah Metacorp Ltd
Shah Metacorp Limited, formerly known as Gyscoal Alloys Limited, operates in the metals sector and is listed on both BSE and NSE under the symbol SHAH. The company is expanding its international footprint through its US-based subsidiary, Shah Metacorp Holdings USA Inc., indicating a strategic focus on overseas growth alongside its domestic operations.
Average Trading Volume: 424,719
Technical Sentiment Signal: Strong Buy
Current Market Cap: 3.1B INR
For detailed information about SHAH stock, go to TipRanks’ Stock Analysis page.