Shah Metacorp Allots 2.75 Cr Equity Shares at ₹4.71 to Promoter

Shah Metacorp Ltd has approved the allotment of 2,75,00,000 fully paid-up equity shares of face value Re. 1/- each at an issue price of ₹4.71 per share to Ms. Mona Viral Shah, a Promoter and Director. This allotment is a result of the exercise of conversion rights attached to convertible warrants previously issued on a preferential basis. The company received ₹9,71,43,750/- as the balance consideration for these warrants. The allotment increases the company's paid-up equity share capital from ₹99,23,74,228/- to ₹1,01,98,74,228/-. The shares will be allotted in dematerialized form and will rank pari passu with existing equity shares.