Shah Metacorp Allots 2.75 Cr Shares to Promoter at Rs 4.71

Shah Metacorp Ltd announced the allotment of 2,75,00,000 fully paid-up equity shares to Ms. Mona Viral Shah, a Promoter and Director. The shares were issued at a price of Rs. 4.71 per share, including a premium of Rs. 3.71. This allotment is a result of the exercise of conversion rights attached to convertible warrants previously issued on a preferential basis. The company received the balance consideration of Rs. 9,71,43,750/- for these warrants. This allotment increases the company's paid-up equity share capital from ₹99,23,74,228/- to ₹1,01,98,74,228/-. The newly allotted shares will rank pari passu with existing equity shares.