Shah Metacorp Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Shah Metacorp Limited has confirmed to the stock exchanges that there is no deviation or variation in the use of proceeds from its preferential allotments for the quarter ended June 30, 2025. The company raised a total of about Rs. 33.87 crore across six allotments in June 2025 at Rs. 4.71 per share/warrant, in addition to Rs. 17.89 crore raised earlier on August 2, 2024. The June 2025 tranches included share allotments to non-promoters (Rs. 14.32 crore) and convertible warrants to promoters and Ms. Mona Shah (Rs. 5.18 crore). All funds were utilized exactly as per the stated objects — working capital, repayment of borrowings, general corporate purposes, and capital expenses such as solar installation and plant & machinery upgradation. The Audit Committee reviewed and approved the statement, and CFO Narendra Sharma signed off on the filing.
This is a routine regulatory compliance filing with no negative implications. Confirmation of zero deviation is mildly positive for governance and shareholder trust. The continued preferential allotments — including promoter warrants — signal ongoing capital infusion and promoter confidence in the business.