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Shah Metacorp Ltd ( (IN:SHAH) ) just unveiled an update.
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 the detailed terms—such as issue price, entitlement ratio, record date and payment structure—to be set later by a reconstituted Rights Issue Committee. The board also cleared a series of related measures, including investing up to USD 100,000 for up to a 50% stake in Shah Metacorp Holdings USA Inc, allowing conversion of a loan from promoter-director Mona Shah into equity under the rights issue subject to shareholder approval, sanctioning related party transactions for both the U.S. investment and working capital loans of up to Rs 100 crore, and initiating a postal ballot process to secure shareholder consent, signalling a broader capital restructuring and international expansion strategy.
More about Shah Metacorp Ltd
Shah Metacorp Limited, formerly known as Gyscoal Alloys Limited, operates in the metals and alloys sector, with its equity shares listed on both BSE and the National Stock Exchange under the symbol SHAH. The company serves a broad base of equity shareholders and has begun establishing an international presence through its U.S. holding entity, Shah Metacorp Holdings USA Inc.
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.