Shah Metacorp Limited has informed the Exchange regarding Board meeting held on December 29, 2025.
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On the reaction day the stock moved 1.3 pts more than Nifty Microcap 250 and 1.4 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Shah Metacorp's board, meeting on December 29, 2025, approved a Rights Issue of fully paid-up equity shares (Re. 1 face value) for an aggregate amount not exceeding Rs. 50 Crore, offered to existing eligible shareholders. The issue price, entitlement ratio, and record date will be decided later by the reconstituted Rights Issue Committee. Separately, the board approved investing up to USD 100,000 (for up to 50% stake) in Shah Metacorp Holdings USA INC, a newly incorporated US entity where Promoter/CEO Viral Shah is an initial director. The board also modified the existing unsecured loan agreement (up to Rs. 75 Crore) with Director and Promoter Mona Shah to add a clause allowing conversion of that loan into equity shares under the proposed rights issue, subject to shareholder approval via postal ballot.
Eligible shareholders will need to participate in the rights issue to maintain their stake, with dilution expected if they don't. The debt-to-equity ratio could improve meaningfully if promoter Mona Shah's loan of up to Rs. 75 Crore is converted into equity, reducing liability. Shareholders should watch for the rights issue price, entitlement ratio, and postal ballot outcome, as related-party loan conversion could shift control dynamics.