Shah Metacorp Board Approves Auditor Appointment, Investment Decisions & Meeting Corrigendum

Shah Metacorp Limited has informed the stock exchanges of the outcome of its Board meeting held on May 22, 2026, which included the appointment of a new Secretarial Auditor, several investment approvals, and a corrigendum to the outcome of its earlier Board meeting dated May 21, 2026. The Board meeting on May 22, 2026 commenced at 6:00 PM (IST) and concluded at 7:00 PM (IST), while the adjourned meeting originally held on May 21, 2026 had commenced at 8:00 PM (IST) and concluded at 9:40 PM (IST).

Corrigendum to Previous Board Meeting

The Board noted a typographical error in the total number of Rights Equity Shares disclosed in the outcome of the May 21, 2026 Board meeting. The corrected figure stands at 102,468,139 shares, replacing the earlier erroneously stated figure of 102,469,136 shares. The company has intimated this correction to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment of Secretarial Auditor

The Board approved the appointment of M/s. Mehul Raval & Associates, Practicing Company Secretaries, as the new Secretarial Auditor of the company. The appointment was made to fill the casual vacancy arising from the resignation of the previous auditor, M/s K Jatin & Co., effective May 20, 2026. The appointment is pursuant to Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key details of the appointment are as follows:

Particulars:	Details
Name of Secretarial Auditor:	M/s. Mehul Raval & Associates
Proprietor:	Mr. Mehul K. Raval
Certificate of Practice No.:	10500
Peer Review Certificate No.:	3765/2023
Experience:	More than 13 years in Corporate Laws, Secretarial Compliances, Listing Regulations & Legal Due Diligence
Reason for Change:	Casual vacancy due to resignation of M/s K Jatin & Co.
Tenure of Appointment:	FY 2025-26 till next Annual General Meeting
Relationship with Directors:	Not related to any Director of the Company

Investment Approvals

The Board approved several key investment decisions during the meeting. With reference to the announcement dated April 23, 2026, the company confirmed that its investment of 26% in Strike Eco Grid Private Limited has been completed. The Board may consider increasing this investment further up to 75% in phases, based on potential business opportunities. Additionally, the company may enter into a Strategic MOU and provide funding support of up to Rs. 25 crore for solar EPC, captive and open access power projects, and renewable infrastructure businesses, subject to market opportunity and business performance.

The Board also approved further investment of up to USD 200,000 in Shah Metacorp Holdings USA INC by subscribing to share capital in one or more tranches during FY2026-27 and FY 2027-28. Furthermore, with reference to the announcement dated December 29, 2025, out of the total inter-corporate loan limit of up to Rs. 100 crores for working capital, the Board approved an unsecured inter-corporate loan of USD 200,000 to Shah Metacorp Holdings USA INC. The key details of the US subsidiary investment are summarised below:

Particulars:	Details
Target Company:	Shah Metacorp Holdings USA INC
Date of Incorporation:	March 31, 2026 (registered with Delaware Secretary)
Industry:	General trading including hospitality, technology, and stainless-steel products
Equity Investment:	Up to USD 200,000 (in one or more tranches)
Acquisition Price:	$0.01 per share (par value)
Inter-Corporate Loan:	USD 200,000 (unsecured, out of total limit of up to Rs. 100 crores)
Nature of Consideration:	Cash
Regulatory Approval:	Prior RBI approval not required under FEMA (Overseas Investment) Directions, 2022
Indicative Timeline:	FY2026-27 and FY 2027-28
Shareholding % Acquired:	Not yet determined

The initial Director of Shah Metacorp Holdings USA INC includes Viral Mukund Shah, Promoter and CEO of Shah Metacorp Limited. The proposed fund infusion is intended to enhance the company's product portfolio, value-added services, and diversification of offerings. The company has stated it will make further disclosures on a timely basis under Regulation 30 of the Listing Regulations.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.88%	-9.80%	-1.56%	+26.50%	+60.13%	+104.03%

Shah Metacorp Limited has approved the issuance of equity shares on a rights basis to raise funds aggregating up to ₹4,980 Lakhs. The board, in its meeting on May 21, 2026, finalized the issue price at ₹4.86 per share, which includes a premium of ₹3.86. The company aims to issue 102,469,136 fully paid-up equity shares, subject to full subscription.

Key Details of the Rights Issue

The rights entitlement ratio has been set at 36 Rights Equity Shares for every 311 fully paid-up Equity Shares held by eligible shareholders. The record date to determine eligibility is Wednesday, May 27, 2026. The rights issue is scheduled to open on Thursday, June 11, 2026, and close on Wednesday, June 24, 2026.

Parameter	Details
Fund Raising Amount	Not exceeding ₹4,980 Lakhs
Rights Issue Price	₹4.86 per share (including premium of ₹3.86)
Rights Entitlement Ratio	36:311
Record Date	May 27, 2026
Issue Opening Date	June 11, 2026
Issue Closing Date	June 24, 2026
ISIN for Rights Entitlement	INE482J20021

Shareholding and Timelines

Prior to the rights issue, the company has 88,52,10,866 outstanding equity shares. Assuming full subscription, the post-issue equity share count will increase to 98,76,80,002. The on-market renunciation period for the rights entitlements will run from June 11, 2026, to June 22, 2026. The board meeting also addressed the appointment of a Secretarial Auditor for FY 2025-26 to fill a casual vacancy, with the meeting adjourned to May 22, 2026, for further business matters.