Shah Metacorp Limited’s shares decline by 9.74 per cent even as the company announces allotment of 4.95 crore equity shares and convertible warrants to non-promoters and promoters.
Shah Metacorp Limited has disclosed its plan to convene a board meeting on July 26, 2023, to finalise the allotment of 4,95,00,000 equity shares to Non-Promoters and 2,28,00,000 convertible warrants into equity shares to Mona Shah, the Promoter Director. These equity shares and warrants, valued at ₹1 each, will be issued at a price not less than ₹3.24.
The share price went down by 9.74 per cent to ₹3.14 at 11:35 am on BSE.