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Shah Metacorp Ltd ( (IN:SHAH) ) has provided an announcement.
Shah Metacorp Limited’s board has approved a rights issue of fully paid equity shares with a face value of Re 1 each to raise up to Rs 50 crore from existing shareholders, with specific terms such as pricing, entitlement ratio, record date and payment structure to be finalized by a reconstituted Rights Issue Committee. The board also cleared several related-party transactions and strategic moves, including investing up to USD 100,000 for up to 50% equity in Shah Metacorp Holdings USA Inc, permitting conversion of a director-promoter’s loan into equity under the rights issue (subject to shareholder approval), sanctioning related-party investments and working capital loans up to Rs 100 crore, and initiating a postal ballot process, signalling a broader capital restructuring and international expansion strategy likely to affect promoter holdings and the group’s funding structure.
More about Shah Metacorp Ltd
Shah Metacorp Limited, formerly known as Gyscoal Alloys Limited, operates in the metals and alloys sector and is listed on both BSE and NSE under the symbol SHAH. The company focuses on manufacturing and trading metal products and is expanding its presence, including through an overseas holding entity in the United States.
Average Trading Volume: 424,719
Technical Sentiment Signal: Strong Buy
Current Market Cap: 3.1B INR
See more data about SHAH stock on TipRanks’ Stock Analysis page.