String Metaverse Limited Promoters to Undertake Offer for Sale of Equity Shares
String Metaverse Limited announced a proposed Offer for Sale (OFS) of its equity shares by its promoter group. The transaction aims to sell a portion of the company's paid-up equity share capital through the stock exchange mechanism.The promoter group consists of Spacenet Enterprises India Limited, Yaralagadda Venkat Subba Rao, Lanka Divyabharathi, and Pendurthi Annapurna. Collectively, the sellers propose to offer up to 38,10,000 Equity Shares of String Metaverse Limited. These shares represent 3.27% of the total paid-up equity share capital of the Company.
The proposed offer is scheduled to take place on two dates: April 21, 2026 (T day) for non-Retail Investors, and April 22, 2026 (T+1 day) for Retail Investors and non-Retail Investors carrying forward bids.
Offer Details and Transaction Parameters
The sale will be conducted exclusively through a designated window on the BSE Limited. Key details of the offer are summarized below:| Detail | Particulars |
|---|---|
| Company | String Metaverse Limited (META 15345351) |
| ISIN | INE958LOI026 |
| Promoter Group/Sellers | Spacenet Enterprises India Limited, Yaralagadda Venkat Subba Rao, Lanka Divyabharathi, and Pendurthi Annapurna |
| Offer Size | Up to 38,10,000 Equity Shares |
| Percentage Offered | 3.27% of total paid-up equity share capital |
| Stock Exchange | BSE |
| Floor Price | INR 66.00 per Equity Share |
| T Day | April 21, 2026 |
| T+1 Day | April 22, 2026 |
Trading Mechanism
The Offer will take place on a separate window of the Stock Exchanges from 9:15 A.M. to 3:30 P.M. Indian Standard Time on both T day and T+1 day.For Non-Retail Investors, placing bids on T day (April 21, 2026), investors have the option to carry forward their unallotted bids to T+1 day. On T+1 day, only Retail Investors are allowed to place bids, while non-Retail Investors can continue to carry forward or revise their unallotted bids.
The allocation process is based on a price priority system, ensuring the allocation is at or above the Floor Price.
Allocation Structure
The minimum allocation requirements for the Offer Shares are structured as follows:- Retail Category: A minimum of 10% of the Offer Shares is reserved for allocation to Retail Investors.
- Non-Retail Category: At least 25% of the shares must be allocated to Mutual Funds and Insurance Companies, subject to valid bids at or above the Floor Price.
- Surplus Allocation: Any unsubscribed portion of the Non-Retail Category after allotment shall be eligible for allocation in the Retail Category.
The process allows non-Retail Investors who bid on T day to carry forward their unallotted bids to T+1 day. Bidders are advised to review the OFS Guidelines for complete details regarding the allocation methodology and procedural timelines.
SPCENET Stock Price Movement
Spacenet Enterprises India Limited shares settled today, shedding 1.47% and closing at ₹4.71. The stock traded a volume of 1.42 million shares during the session.Source:
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.