Shah Metacorp Limited (formerly Gyscoal Alloys Limited) announced a series of significant decisions made by its Board of Directors during a meeting held on December 29, 2025. The board approved a Rights Issue of fully paid-up Equity Shares, aiming to raise up to ₹50 Crore. The specifics of the issue price, entitlement ratio, and record date will be determined and announced later. This move is subject to necessary regulatory and statutory approvals. Furthermore, the company will invest up to USD 100,000 in its subsidiary, Shah Metacorp Holdings USA INC, over FY2025-26 and FY2026-27. This investment, which may constitute up to 50% of the subsidiary's share capital, is intended to support the USA company's business operations. Disclosures indicate that the USA entity is newly incorporated and has not yet commenced business. The board also approved modifications to a loan agreement dated March 31, 2025, with Ms. Mona Viral Shah, a Director and Promoter. The modification allows for the potential conversion of the outstanding loan amount into equity shares under the proposed rights issue, subject to shareholder approval via postal ballot and regulatory clearances. This conversion is a related party transaction. The original loan agreement was executed on May 06, 2025, for an amount up to ₹75 crore, unsecured, and repayable on demand. Additionally, the board reconstituted the Rights Issue committee, effective December 29, 2025, with Mona Viral Shah as Chairperson. The company also approved the appointment of intermediaries for the Rights Issue and finalized the appointment of a Scrutinizer and the date for a postal ballot to approve related party transactions and the notice for the postal ballot.
