Shah Metacorp Limited has announced a Rs. 49.80 crore Rights Issue as part of its broader strategy to strengthen operations, expand into new growth sectors, and accelerate its international business presence. The Ahmedabad-headquartered manufacturer and exporter of stainless steel long products plans to use the proceeds to support expansion initiatives and enhance its financial position as it pursues long-term diversification and growth opportunities.
The Rights Issue will open for subscription on June 11, 2026, and close on June 24, 2026. The company has fixed the issue price at Rs. 4.86 per equity share, offering eligible shareholders an opportunity to increase their participation in the company’s future growth plans. The last date for on-market renunciation of Rights Entitlements is June 22, 2026.
The issue comprises up to 10,24,68,139 fully paid-up equity shares with a face value of Rs. 1 each. The entitlement ratio has been fixed at 36 rights shares for every 311 equity shares held by shareholders on the record date of May 27, 2026. Alongside the fundraising initiative, Shah Metacorp Limited has also approved several strategic business developments aimed at expanding its presence in emerging sectors and international markets.
The company recently completed the acquisition of a 26 per cent stake in Strike Eco Grid Private Limited, marking its entry into the renewable energy segment. The investment is expected to support future opportunities in clean energy, sustainable infrastructure, and ESG-focused businesses. In addition, the company has approved investment into its newly incorporated wholly owned subsidiary, Shah Metacorp Holdings USA INC, to strengthen its international operations and expand its footprint in the United States market.
Commenting on the developments, Viral Mukund Shah said the Rights Issue and recent strategic decisions represent important steps in building the company’s next phase of growth. He stated that while the company remains focused on strengthening its core stainless steel business, its diversification into renewable energy and global expansion initiatives reflect a long-term vision of building a resilient and future-ready organisation capable of creating sustainable shareholder value.
The fundraising announcement comes amid improving operational performance for the company. During Q3 FY26, Shah Metacorp reported revenue of nearly Rs 149 crore and profit after tax of around Rs 4 crore, reflecting steady business momentum across core operations.
The company expects another strong quarterly performance in Q4 FY26, with results scheduled to be announced later this month. Founded in 1999 and headquartered in Ahmedabad, Gujarat, Shah Metacorp manufactures stainless steel angle bars, bright bars, flat bars, flats, and ingots for domestic and international markets across multiple industries.
