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Shah Metacorp Limited (formerly Gyscoal Alloys Limited) announced that its Board of Directors, in a meeting held on December 29, 2025, has approved several key proposals. The board sanctioned a Rights Issue of fully paid-up Equity Shares amounting to Rs 50 crore to eligible equity shareholders.

The specific terms of the Rights Issue, including the issue price, entitlement ratio, and record date, will be determined and announced later. The company also approved the reconstitution of its Rights Issue Committee, effective from December 29, 2025, with Mona Viral Shah as Chairperson.

Furthermore, the company will invest up to USD 100,000 in Shah Metacorp Holdings USA INC by subscribing to up to 50% of its share capital in tranches during FY2025-26 and FY2026-27. This investment is intended to enhance product portfolio, value-added services, and diversification of offerings.

The board also approved the appointment of intermediaries for the Rights Issue. Additionally, the terms of the original loan agreement dated March 31, 2025, with Ms. Mona Viral Shah were modified to include a clause for conversion of the loan into capital under the proposed rights issue, subject to shareholder approval via postal ballot and regulatory clearance. This conversion is considered a related party transaction. Another related party transaction approved involves an investment in Shah Metacorp Holdings USA INC and a working capital loan of up to Rs 100 crore.

The board 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.