String Metaverse Shareholders Approve Exclusive Bonus Issue for Public Investors, Targeting 25% MPS Compliance
String Metaverse Limited announced that its shareholders have approved a Special Resolution authorizing an exclusive bonus issue aimed at public investors. The initiative is intended to help the company meet the prescribed 25% Minimum Public Shareholding (MPS) requirement.The approval was achieved following an e-voting process that concluded on June 04, 2026, receiving an overwhelming majority of shareholder support. To determine eligibility for the bonus shares, String Metaverse Limited has set the Record Date as June 19, 2026.
The approved bonus issue specifies that eligible public shareholders will receive 2 Bonus Equity Shares for every 9 Equity Shares held.
The corporate action is notable in the Indian capital market as it represents a rare instance where bonus shares are being issued exclusively to the public. Critically, the promoter and the promoter group have voluntarily waived their entitlement to this issue.
This initiative is designed to reward public investors who have participated in the company's growth while aiding compliance with regulatory requirements and broadening public ownership of String Metaverse Limited.
Key Details of the Bonus Issue
A summary of the core elements of the approved transaction is detailed below:| Feature | Detail |
|---|---|
| Bonus Ratio | 2 Bonus Shares for every 9 Equity Shares held |
| Record Date | June 19, 2026 |
| Objective | Achieving the prescribed 25% Minimum Public Shareholding requirement |
| Promoter Participation | Promoter and promoter group have voluntarily waived entitlement |
| Beneficiaries | Eligible public shareholders of the Company |
Management Commentary
Commenting on the development, Dr. Raghavendra Hunasgi, Chief Executive Officer (CEO) of String Metaverse Limited, stated that the shareholder approval marks an important milestone in their effort to enhance public participation and achieve the required Minimum Public Shareholding norms.He noted that this unique initiative reflects the company's commitment to creating long-term value for public investors while strengthening its capital market profile. Dr. Hunasgi added that as String Metaverse continues to expand its global footprint, the focus remains on executing a long-term growth strategy across various sectors including AI infrastructure, digital assets, Web3 ecosystems, gaming platforms, agentic technologies, and next generation financial infrastructure.
String Metaverse Limited operates globally through business units focused on AI economies and advanced digital infrastructure in markets such as India, Hong Kong, Singapore, UAE, and Canada.
Stock Price Movement
As of 14:32, String Metaverse Ltd is edging higher at ₹9.90, after shares jumped by 3.99% during the trading session.The stock moved within an intraday range established between a low of ₹9.60 and a high of ₹9.98.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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