Shah Metacorp Limited has informed the Exchange about General Updates
SHAH · price
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Shah Metacorp Limited has received in-principal approval from both BSE and NSE for a proposed rights issue of fully paid-up equity shares. The rights issue is sized at up to Rs. 4,980 lakhs (approximately Rs. 49.8 crore). Shares have a face value of Re. 1 each and will be offered at a price including premium to eligible equity shareholders on the record date. The company must fix a record date with at least three working days advance notice to the exchanges, and disclose the rights issue price at least three working days prior to the record date. The company must also ensure dematerialization agreements with depositories and comply with all statutory requirements before finalizing the offer.
Existing shareholders will receive rights entitlements in the upcoming issue. The company gains approval to raise capital via the rights route, which could dilute existing holdings but provides funds for corporate purposes. Full details on the exact ratio, pricing, and use of proceeds are still pending disclosure.