String Metaverse Limited Announces Successful OFS Board to Consider Bonus Issue for Public Shareholders

HYDERABAD:  String Metaverse Limited has reached a significant corporate milestone following the successful completion of its Offer for Sale (OFS). The offering saw overwhelming demand from the investment community, particularly from retail participants, signaling strong market confidence in the company’s future trajectory.

Robust Investor Response:
The OFS, conducted over a two-day period, demonstrated high liquidity and interest across all investor segments. The Non-Retail portion, which opened on April 21, was subscribed at approximately 149%. This momentum surged even further during the Retail segment on April 22, which reached a remarkable subscription level of approximately 495%.

With the completion of this sale, String Metaverse expects to be in full compliance with Minimum Public Shareholding (MPS) requirements, aligning the company with standard regulatory frameworks for public entities.

Rewarding Public Shareholders:
In light of the enthusiastic retail participation, the Board of Directors is scheduled to meet on April 29, 2026, to evaluate a proposal for a bonus equity share issue. This move is specifically designed to reward the company’s growing public shareholder base.

To further enhance market liquidity and public ownership, the promoters have indicated they may forgo their own entitlement to these bonus shares. This strategic renunciation would effectively increase the percentage of shares held by the public, strengthening the company’s ownership structure.

Strategic Objectives:
The proposed corporate actions are aimed at three core goals.

• Rewarding the loyalty of public investors.
• Enhancing market liquidity and share accessibility.
• Aligning the company’s capital structure with its long-term growth objectives.

The final execution of the bonus issue remains subject to board approval and the necessary regulatory clearances.