SHAH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Shah Metacorp Limited has announced a Rs. 49.80 crore Rights Issue comprising 10.24 crore equity shares at Rs. 4.86 per share. The issue opens June 11 and closes June 24, 2026, with an entitlement ratio of 36:311. Concurrently, the company completed acquisition of a 26% stake in Strike Eco Grid Private Limited, marking its entry into the renewable energy sector. The Board also approved investment in Shah Metacorp Holdings USA INC, a new wholly-owned US subsidiary for international expansion. Q3 FY26 showed revenue of ~Rs. 149 crore and PAT of ~Rs. 4 crore, with Q4 FY26 results expected later this month.
The rights issue is slightly dilutive at a discount to current market price (Rs. 4.86 vs Rs. 5.09), offering existing shareholders an opportunity to maintain their stake. The strategic moves into renewable energy and US expansion signal diversification beyond the core stainless steel business, which could be positive for long-term growth prospects.