String Metaverse Ltd Completes Promoter Offer for Sale, Adjusting Shareholding
String Metaverse Ltd reported the successful completion of an Offer for Sale (OFS) of equity shares by its Promoter Group, divesting a total of 38,10,000 shares through the stock exchange mechanism.The divestment occurred during the OFS period spanning April 21, 2026, to April 22, 2026. The total shares sold were 38,10,000 equity shares, each having a face value of ₹10/-. This sale represented 3.27% of the Company's total issued and paid-up equity share capital.
The share sales were executed by the following promoter group entities:
| Promoter Group / Entity | Shares Sold |
|---|---|
| Spacenet Enterprises India Ltd. | 30,00,000 |
| Y. Venkata Subba Rao | 5,00,000 |
| Lanka Divyabharathi | 2,10,000 |
| Pendurthi Annapurna | 1,00,000 |
| Total | 38,10,000 |
Following the successful conclusion of the sale, the Promoter Group’s shareholding in String Metaverse Ltd decreased from 81.79% to 78.52% of the paid-up equity share capital. Consequently, the public shareholding in the Company increased to 21.48%.
The Company stated its continued commitment to meeting the Minimum Public Shareholding (MPS) requirement. String Metaverse Ltd plans to take necessary steps to ensure compliance with the prescribed MPS rules within the stipulated timelines.
Stock Price Movement
String Metaverse Ltd settled today at ₹83.45, climbing 4.97% for the session. Throughout the day, the shares showed volatility, trading within a range starting at ₹80.75 and peaking at the high of ₹83.45.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.
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