Shah Metacorp Limited (formerly Gyscoal Alloys Limited) announced the outcome of its Board of Directors meeting held on December 29, 2025. The board approved the issuance of fully paid-up Equity Shares amounting to ₹50 Crore by way of a Rights Issue to eligible equity shareholders. The specific terms, including issue price and record date, will be determined and disclosed later. The board also approved an investment of up to USD 100,000 in its subsidiary, Shah Metacorp Holdings USA INC, through share capital subscription during FY2025-26 and FY 2026-27. This investment aims to enhance product portfolio and diversify offerings. Furthermore, the company approved modifications to the original loan agreement dated March 31, 2025, with Ms. Mona Viral Shah, a Director and Promoter. The modification allows for the conversion of her loan into equity shares under the proposed rights issue, subject to shareholder and regulatory approvals. This conversion, along with other related party transactions concerning the USA subsidiary investment and a working capital loan of up to ₹100 crore, was approved. The board also reconstituted the Rights Issue committee and approved the appointment of a scrutinizer for a postal ballot. The meeting commenced at 8:30 p.m. and concluded at 9:30 p.m.
