Shah Metacorp shares decline by 9.74%

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Shah Metacorp LtdShares of the company fell by 9.74 per cent even as the company announced allotment of Rs 4.95 crore equity shares and transferable securities to non-promoters and promoters.

Shah Metacorp Limited has disclosed its plan to hold a meeting of the Board of Directors on July 26, 2023, to finalize the allotment of 4,95,00,000 shares of stock to non-promoters and 2,28,00,000 warranties convertible into equity shares to Mona Shah, Director of Promotion. These equity shares and warrants, valued at ₹ 1 each, will be issued at a price not less than ₹ 3.24.

The share price fell by 9.74 percent to 3.14 rupees at 11:35 a.m. Bahrain time.