Shah Metacorp Limited — Others, 13-01-2025: Statement of deviation(s) or variation(s) under Reg. 32

Shah Metacorp Limited has announced a board meeting to confirm that there is no deviation in the use of proceeds from the preferential allotment of 4.45 crore convertible warrants, raising ₹14 crore at ₹4.02 per share. Out of these funds, ₹3.61 crore has been used for issuing 90 lakh equity shares upon warrant conversion, allocated primarily for expanding core businesses and managing short-term needs. This stability in fund utilization suggests favorable governance, potentially enhancing investor confidence and reflecting a positive outlook on operational continuity.