Shah Metacorp Limited has informed the Exchange regarding Outcome of Committee Meeting held on July 03, 2025.
SHAH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Shah Metacorp Limited has approved the allotment of 1.15 crore equity shares (out of a total 6.65 crore shares approved for preferential issue) to three non-promoter allottees at a price of ₹4.71 per share. The total amount raised is approximately ₹5.42 crore in cash. The shares have been allotted to Karni Enterprise (65 lakh shares, ₹3.06 crore), Savitaben Vaghani (25 lakh shares, ₹1.18 crore), and Bhupendra L Patel (25 lakh shares, ₹1.18 crore). Post-allotment, Karni Enterprise's stake rises from 2.50% to 3.42%, while the other two allottees become new shareholders with around 0.37% each. This is part of a larger preferential issue approved by shareholders at an EGM held on March 5, 2025, with in-principle approval from BSE and NSE received in June 2025.
This is a small preferential allotment worth about ₹5.4 crore, which will cause minor dilution for existing shareholders. The remaining 5.5 crore shares from the approved 6.65 crore could be allotted later, potentially leading to further dilution. The low issue price of ₹4.71 may indicate the shares are being issued at a discount to market price, which is typical for preferential allotments.