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Shah Metacorp Ltd ( (IN:SHAH) ) has issued an update.
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 detailed terms such as issue price, entitlement ratio, record date and payment structure to be finalized and announced later. The board reconstituted its Rights Issue Committee, cleared the appointment of intermediaries for the capital raise, and approved multiple related-party transactions, including the potential conversion of a loan from director and promoter Mona Viral Shah into equity under the rights issue, subject to shareholder and regulatory approvals. In a parallel move to expand its international footprint, the company sanctioned an investment of up to USD 100,000 to acquire up to 50% shareholding in Shah Metacorp Holdings USA Inc over FY 2025-26 and FY 2026-27, along with approval for related-party transactions covering both this investment and a working capital loan facility of up to Rs 100 crore to the US entity. The board also finalized procedural steps for a postal ballot, including appointment of a scrutinizer and approval of the ballot notice, indicating that key aspects of the capital restructuring and related-party arrangements will be put before shareholders for approval, potentially reshaping the company’s capital structure and governance dynamics while supporting its overseas growth plans.
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 engaged in manufacturing and related activities in metal products and alloys, serving domestic and potentially international markets through its evolving corporate structure, including an overseas holding entity in the United States.
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.