Shah Metacorp Approves Rights Issue of ₹50 Crore, Investment in US Subsidiary, and Loan Conversion
Shah Metacorp Limited (formerly Gyscoal Alloys Limited) announced key decisions made during its Board of Directors meeting held on December 29, 2025. The Board approved a Rights Issue of fully paid-up...
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Why is Shah Metacorp Limited in the news today?
Shah Metacorp Limited (SHAH) is in the news due to the company has approved a significant rights issue to raise capital, which can be used for growth initiatives. the investment in a foreign subsidiary and the potential conversion of a director's loan into equity are also positive developments for strengthening the company's financial structure.
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Shah Metacorp Approves Rights Issue of ₹50 Crore, Investment in US Subsidiary, and Loan Conversion
December 29, 2025, 05:16 PM
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Shah Metacorp Limited (formerly Gyscoal Alloys Limited) announced key decisions made during its Board of Directors meeting held on December 29, 2025. The Board approved a Rights Issue of fully paid-up Equity Shares amounting to ₹50 Crore to eligible shareholders. Specific terms like issue price and record date will be determined later.
The company also approved an investment of up to USD 100,000 in its subsidiary, Shah Metacorp Holdings USA INC, during FY2025-26 and FY2026-27. This investment is intended to enhance product portfolio and diversify offerings.
Furthermore, the Board approved modifications to the loan agreement with Ms. Mona Viral Shah, a Director and Promoter. The agreement, originally dated March 31, 2025, and with a loan amount of up to ₹75 Crore, will now include a clause allowing for the conversion of the outstanding loan and interest into equity shares under the proposed rights issue, subject to shareholder and regulatory approvals. This conversion is a related party transaction.
Additionally, the Board reconstituted the Rights Issue committee, appointed intermediaries for the Rights Issue, approved the draft notice of Postal Ballot, and fixed the date and time for postal ballot proceedings. The Board meeting commenced at 8:30 p.m. and concluded at 9:30 p.m.
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