Penny stock below ₹5 hits 20% upper circuit after THIS update from the company's promoter

A penny stock below ₹5, Shah Metacorp, surged 20 per cent to hit its upper circuit in intraday trade on the BSE on Thursday, June 12. Shah Metacorp share price opened at ₹3.15 against its previous close of ₹3.14 and surged as much as 19.75 per cent to hit its upper circuit of ₹3.76, looking set to extend gains to the fourth consecutive session.

Shah Metacorp: Promoter shareholding update

According to the exchange filing, the company's promoter Mona Viral Shah acquired 3,55,00,000 equity shares of face value of ₹1 each, or 4.99 per cent stake, in the company through conversion of warrant issued on preferential basis on August 2, 2024.

Before the acquisition, Mona Viral Shah held 6,82,06,084 shares, equivalent to 11.48 per cent stake, in the company, which rose to 10,37,06,084 shares (16.48 per cent stake).

Equity shares were allotted on June 9, 2025, but they have not been credited, and the application is pending with the exchange.

The total voting capital of Shah Metacorp before the acquisition stood at 59,38,78,676, which rose to 62,93,78,676 equity shares after the acquisition.

Shah Metacorp share price trend

Shah Metacorp shares hit their 52-week high of ₹7.40 on August 7 last year and a 52-week low of ₹2.72 on May 9 this year.

Year-to-date, the stock has declined over 17 per cent. However, on a monthly scale, it has jumped 21 per cent in June after 1 per cent gain in May and a 7 per cent gain in April.

Over the last year, the penny stock has declined 10 per cent. 

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