Spacenet Enterprises India Sells Stake in String Metaverse Limited for Promoter Group
Spacenet Enterprises India Limited has sold equity shares of String Metaverse Limited (SML) as part of an offer for sale, reducing the promoter group's stake to meet Minimum Public Shareholding requirements.The sale, conducted by Spacenet Enterprises India Limited, the promoter group of String Metaverse Limited, involved the divestment of 30,00,000 equity shares. The shares, each having a face value of 10/-, represented 2.58% of the total issued and paid-up equity share capital of SML.
The sale was executed through the stock exchange mechanism on April 21 and April 22, 2026.
Following the divestment, the promoter group's shareholding in SML saw a significant reduction. The stake decreased from 4.61% to 2.03% of the paid-up equity share capital of String Metaverse Limited.
SPCENET Stock Price Movement
On Thursday, Spacenet Enterprises India Limited shares shed 1.14% to close at ₹4.35. The equity traded within a range of ₹4.30 to ₹4.46 during the session, recording a total volume of 592,723 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.