Corporate Action16 Jul 2026, 08:20 pm
Shah Metacorp Allots 1 Cr Shares on Warrant Conversion
AI Summary
Shah Metacorp Ltd announced the approval of the allotment of 1,00,00,000 equity shares following the exercise of rights attached to convertible warrants. This conversion represents half of the total 2,00,00,000 issued convertible warrants. The shares were allotted to Ms. Mona Viral Shah, a Promoter and Director, at an issue price of ₹4.71 per share. This allotment increases the company's paid-up equity share capital from ₹98,23,74,228 to ₹99,23,74,228. The board meeting also approved several leadership realignments, including the resignation of Mr. Viral Mukundbhai Shah as CEO and his subsequent appointment as Executive Director, along with changes in other directorships and committee compositions.
Key Highlights
- Allotment of 1 crore equity shares upon warrant conversion.
- Paid-up equity capital increased to ₹99.23 crore.
- CEO Viral Shah resigns, appointed as Executive Director.
- Leadership changes and committee reconstitutions approved.
- Company authorized personnel for material event disclosures.
Price Impact
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