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Shah Metacorp Ltd ( (IN:SHAH) ) has shared 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 key terms such as issue price, entitlement ratio and record date to be set by a designated Rights Issue Committee and disclosed later. In parallel, the board reconstituted this committee under Executive Director Mona Viral Shah, cleared an investment of up to USD 100,000 for up to 50% equity in Shah Metacorp Holdings USA Inc over FY 2025-26 and 2026-27, and authorized related-party transactions including conversion of a director-promoter’s loan into equity via the rights issue and provision of up to Rs 100 crore in working capital loans to the U.S. subsidiary. The board also approved appointment of intermediaries for the rights issue, modifications to a prior loan agreement to enable loan-to-equity conversion, and procedural steps such as appointing a scrutinizer and finalizing a postal ballot notice, signaling a coordinated capital-raising and international expansion strategy with governance approvals routed through shareholder consent.
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 engages in manufacturing and trading of metal products and is expanding its presence through overseas holdings, including a U.S. entity, reflecting a strategy to deepen its international footprint and diversify its operations.
Average Trading Volume: 424,719
Technical Sentiment Signal: Strong Buy
Current Market Cap: 3.1B INR
For an in-depth examination of SHAH stock, go to TipRanks’ Overview page.