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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 final terms such as issue price, entitlement ratio, record date and payment structure to be set by a reconstituted Rights Issue Committee. The board also cleared a series of related party and strategic funding decisions, including an investment of up to USD 100,000 for up to 50% shareholding in Shah Metacorp Holdings USA Inc, approval for up to Rs 100 crore in working capital loans to the US entity, and the conversion of a loan from director-promoter Mona Shah into equity under the proposed rights issue, all subject to shareholder approval via postal ballot. These moves collectively signal a capital-raising and restructuring push aimed at strengthening the company’s balance sheet, supporting overseas expansion, and formalizing key related party arrangements, with governance steps such as appointment of intermediaries, a scrutinizer and postal ballot procedures put in place to complete the process.
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’s activities involve alloy and metal-related businesses, and it is expanding its presence through an overseas holding entity in the United States, indicating a growing focus on international markets and capital-intensive operations.
Average Trading Volume: 424,719
Technical Sentiment Signal: Strong Buy
Current Market Cap: 3.1B INR
See more insights into SHAH stock on TipRanks’ Stock Analysis page.