Spacenet Enterprises India Sells String Metaverse Shares for ₹2.60 Crore

Spacenet Enterprises India Limited sold 40,00,005 equity shares of String Metaverse Limited on November 11, 2026, at a weighted average price of ₹6.49 per share, generating gross consideration of about ₹2.60 crore before transaction charges. The transaction is material under the company’s disclosure threshold and represents a partial disposal of its investment.

What did Spacenet sell in String Metaverse?

Spacenet sold 40,00,005 equity shares of String Metaverse Limited through open-market transactions on BSE Limited on November 11, 2026. The reported weighted average sale price was ₹6.49 per share, taking the aggregate gross sale consideration to approximately ₹2.60 crore.

The company disclosed the transaction under Regulation 30 of the Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements Regulations, 2015. The stated amount is before brokerage, taxes and other transaction charges. Spacenet described the transaction as a partial disposal of its investment in String Metaverse.

The disclosure identifies String Metaverse by its BSE code, 534535, and ISIN, INE958L01034. It does not specify the acquisition cost of the shares sold, the accounting gain or loss from the transaction, or the use planned for the sale proceeds.

How was the November sale executed?

The November transaction was executed through open-market transactions on BSE, rather than through the offer-for-sale mechanism used earlier in 2026. An open-market sale involves disposal of shares through exchange trading, with the company reporting the weighted average price achieved across the relevant transactions.

Spacenet stated that the gross consideration exceeded the applicable numerical materiality threshold, requiring a stock-exchange disclosure. The company’s filing did not state whether the shares were sold to one buyer or multiple market participants, and it did not disclose the company’s remaining holding after the November transaction.

The sale price of ₹6.49 per share and the quantity of 40,00,005 shares imply gross proceeds of roughly ₹2.60 crore. The final cash amount retained by Spacenet would be lower after brokerage, taxes and other charges, which were not quantified in the disclosure.

How does this compare with Spacenet’s April 2026 OFS?

The November disposal follows an offer for sale, or OFS, completed by Spacenet on April 21 and 22, 2026. In that transaction, Spacenet sold 30,00,000 equity shares of String Metaverse, representing 2.58% of the latter’s issued and paid-up equity share capital.

The April OFS was undertaken to help meet minimum public shareholding requirements under the SEBI framework. After that sale, Spacenet’s promoter-group holding in String Metaverse declined from 4.61% to 2.03% of paid-up equity capital, according to the information disclosed for the OFS.

The two transactions have different stated contexts. The April sale was specifically linked to minimum public shareholding compliance and was conducted through the OFS route. The November filing characterises the transaction as an open-market partial disposal and focuses on its material value under listing-disclosure rules.

What does the sale mean for Spacenet and String Metaverse investors?

For Spacenet, the transaction converts part of its investment in String Metaverse into cash, with gross proceeds of about ₹2.60 crore before charges. The company has not disclosed the cost at which the shares were acquired, so the financial statement impact from any profit or loss cannot be determined from the announcement.

The filing also does not identify a change in Spacenet’s core business operations, capital allocation plan, or investment strategy. Investors therefore have a confirmed transaction value and share quantity, but not sufficient disclosed information to calculate the realised return or the company’s post-sale ownership in String Metaverse.

For String Metaverse shareholders, the open-market sale adds a further share disposal by a promoter-group entity after the April OFS. The April transaction had an explicit regulatory objective of improving public shareholding. The November disclosure does not state whether the latest sale was connected to any further minimum-public-shareholding requirement.

Conclusion

Spacenet has disclosed the sale of 40,00,005 String Metaverse shares at ₹6.49 each, raising gross proceeds of about ₹2.60 crore before costs. The November 11 open-market transaction is distinct from the April OFS, which sold 30,00,000 shares to support minimum public shareholding compliance and reduced Spacenet’s promoter-group stake to 2.03% at that time.

The next disclosures to watch are Spacenet’s reported remaining holding in String Metaverse, if provided, and any statement on the accounting treatment or use of the proceeds. The current filing does not disclose either the cost of the shares sold or a planned deployment of the funds.