Shah Metacorp Limited (formerly Gyscoal Alloys Limited) announced the outcome of its Board Meeting held on December 29, 2025. The Board approved the issuance of fully paid-up Equity Shares worth up to ₹50 Crore via a Rights Issue to eligible shareholders. The specific terms, including issue price and record date, will be determined and disclosed later. The Board also reconstituted the Rights Issue Committee, with Mona Viral Shah as Chairperson. Additionally, the company approved an investment of up to USD 100,000 in Shah Metacorp Holdings USA INC, acquiring up to 50% of its share capital in tranches during FY2025-26 and FY 2026-27. The USA subsidiary is newly incorporated and has not yet commenced operations. Further, the Board approved the appointment of intermediaries for the Rights Issue and modified the terms of an original Loan Agreement dated March 31, 2025, with Ms. Mona Viral Shah. This modification allows for the conversion of the loan into capital under the proposed rights issue, subject to shareholder and regulatory approvals. This conversion is considered a related party transaction. The company also approved other related party transactions, including an investment in Shah Metacorp Holdings USA INC and a working capital loan of up to ₹100 crores. The company also approved the appointment of a scrutinizer and fixed the date and time for a postal ballot, along with approving the draft notice for the same. The Board meeting commenced at 8:30 p.m. and concluded at 9:30 p.m.
