VMPL
Mumbai (Maharashtra) [India], April 24: String Metaverse Limited today announced the successful completion of its Offer for Sale (OFS) of equity shares, which witnessed a strong and broad-based response from investors across categories.
The OFS was conducted over two trading days with the following subscription levels:
- Non-Retail Investors (April 21, 2026): Subscribed approximately 149%
- Retail Investors (April 22, 2026): Subscribed approximately 495%
The Company noted particularly strong participation from retail investors, reflecting sustained investor confidence in its growth prospects and strategic direction.
Following the successful completion of the OFS, the Company expects to be in compliance with the Minimum Public Shareholding (MPS) requirements as prescribed under applicable regulations.
In recognition of the strong participation and continued support from public shareholders, the Board of Directors of the Company is scheduled to meet on April 29, 2026, inter alia, to consider a proposal for the issuance of bonus equity shares Subject to necessary approvals and applicable regulatory requirements:
- The proposed bonus issue may be structured to enhance participation of public shareholders
- The promoters may forgo/renounce their entitlement to the bonus shares, thereby supporting an increase in public shareholding
The proposed corporate action is aimed at:
- Rewarding public shareholders for their participation and continued support
- Enhancing public shareholding and market liquidity
- Aligning the Company's ownership structure with its long-term growth and participation objectives
The proposed bonus issue remains subject to approval of the Board of Directors and such statutory and regulatory approvals as may be required.
About String Metaverse Limited
String Metaverse Limited operates in the Web3, digital assets, and financial infrastructure space, with a focus on building scalable technology-driven platforms across global markets.
For further information, please contact:
M. Chowda Reddy
Company Secretary & Compliance Officer
cs@stringmetaverse.com
Disclaimer:
This press release contains forward-looking statements, including statements regarding the proposed bonus issue. Actual results may differ based on regulatory approvals and other factors.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
