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The latest announcement is out from Shah Metacorp Ltd ( (IN:SHAH) ).
Shah Metacorp Limited’s board has approved a rights issue of fully paid-up 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 set by a reconstituted Rights Issue Committee and disclosed later. The board also cleared a series of governance and capital allocation measures, including reconstitution of the Rights Issue Committee, appointment of intermediaries, approval of related-party transactions to allow conversion of a promoter-director loan into equity under the rights issue, and approval of investments of up to USD 100,000 and additional working capital support of up to Rs 100 crore for Shah Metacorp Holdings USA Inc., along with postal ballot processes to seek shareholder approval, indicating a planned strengthening of capital structure and expansion of the group’s international footprint.
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, positioning itself within India’s broader steel and alloys industry and maintaining an active presence in capital markets for its funding needs.
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.