Shah Metacorp Allots 9.7 Cr Rights Shares, Raises ₹47.2 Cr

Shah Metacorp Ltd has successfully completed its rights issue, allotting 9,71,63,362 equity shares at ₹4.86 per share. This allotment, approved by the Rights Issue Committee, has raised approximately ₹47.22 crore. The issue was part of a larger offering of up to 10,24,68,139 shares. The company's paid-up equity share capital has increased from ₹88.52 crore to ₹98.23 crore post-allotment. The subscription level for the issue was 94.82%. The funds raised include ₹15.37 crore via conversion of promoter's unsecured loan.