String Metaverse completes Rs. 14.83 crore preferential issue

String Metaverse Limited completed a preferential cash issue of 1,67,57,058 equity shares to 14 investors on 30 October 2026, raising Rs 14.83 crore at Rs 8.85 per share. The allotment increased paid-up equity capital from Rs 121.99 crore to Rs 123.67 crore and added 1,67,57,058 fully paid shares.

What did String Metaverse allot in the preferential issue?

String Metaverse allotted 1,67,57,058 fully paid equity shares with a face value of Rs 1 each through a preferential issue on a private-placement basis. Its Preferential Issue Committee approved the allotment on 30 October 2026 at a meeting held from 2:30 pm to 3:15 pm Indian Standard Time.

The issue price was Rs 8.85 a share, comprising Rs 1 face value and Rs 7.85 securities premium. At that price, the 1,67,57,058 shares represented aggregate cash consideration of Rs 14.83 crore, according to the company’s Regulation 30 disclosure to BSE Limited.

The securities issued were equity shares rather than convertible instruments, so the disclosure marked conversion or lapse-of-tenure information as not applicable. String Metaverse said the new shares would rank pari passu with existing fully paid equity shares, including for dividends, voting rights and other corporate benefits.

The company also reported that no proposal for issuance of securities had been cancelled or terminated. The preferential issue was made under Chapter V of the Securities and Exchange Board of India’s Issue of Capital and Disclosure Requirements Regulations, 2018, as stated in the 30 October 2026 filing.

How did String Metaverse's paid-up capital change?

String Metaverse’s issued, subscribed and paid-up equity share count increased from 121,99,09,771 shares to 123,66,66,829 shares after the 30 October 2026 allotment. The change of 1,67,57,058 shares exactly matches the number issued to the 14 named allottees.

At the Rs 1 face value of each equity share, paid-up equity capital rose from Rs 121.99 crore before the issue to Rs 123.67 crore after it. The nominal paid-up capital increase was Rs 1.68 crore, while total cash consideration was Rs 14.83 crore because the issue included a Rs 7.85-per-share premium.

The comparison shows that the share count and paid-up capital both increased on 30 October 2026, whereas the securities premium accounted for most of the Rs 14.83 crore consideration. String Metaverse did not disclose a separate class of shares, as all 1,67,57,058 securities were described as fully paid equity shares.

Who received String Metaverse's newly issued shares?

String Metaverse issued the shares to 14 allottees, each classified as a non-promoter in its allottee table. Kamal Jagdish Gupta and Sonal Kamal Gupta received the largest individual allotments of 50,00,000 shares each, giving them 1 crore shares combined.

Rina Jain received 16,94,915 shares, while Bommareddy Veera Venkata Sivakumar Reddy and Rahul Ginjupalli each received 11,29,943 shares. These four allottees together received 89,54,801 shares, or more than half of the 1,67,57,058 shares allotted on 30 October 2026.

Bommareddy Veera Venkata Sivakumar Reddy was the only recipient listed with a pre-issue holding. His holding increased from 1,28,333 shares to 12,58,276 shares after receiving 11,29,943 shares, while the other 13 allottees were shown as having nil pre-issue holdings.

The 14 recipients collectively held 1,28,333 shares before the issue and 1,68,85,391 shares afterwards. The difference of 1,67,57,058 shares reconciles with the total preferential allotment and with the change in String Metaverse’s issued and paid-up share count.

What approvals preceded String Metaverse's allotment?

String Metaverse completed the allotment after its board approved the proposal on 17 September 2026, BSE granted in-principle approval on 14 October 2026, and shareholders approved it at an extraordinary general meeting on 15 October 2026. The final allotment occurred 45 days after the board approval and 15 days after BSE’s approval.

The filing was made under Regulation 30 of the Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements Regulations, 2015. It also cited the Securities and Exchange Board of India master circular updated on 30 January 2026 and the applicable preferential-issue rules under the 2018 regulations.

String Metaverse identified the listed security as META, with BSE code 534535. The company also noted that it was formerly known as Bio Green Papers Limited, but the 30 October 2026 transaction, approvals and allottee disclosures were made under the name String Metaverse.

The company’s disclosure specifies a cash consideration of Rs 14.83 crore and an issue price of Rs 8.85 a share, rather than an exchange of assets or a conversion of existing instruments. It does not state a use-of-proceeds allocation for the funds raised through the 1,67,57,058-share issue.

Conclusion

String Metaverse has completed the preferential issue approved in September 2026 by issuing 1,67,57,058 equity shares for Rs 14.83 crore. The transaction expanded paid-up equity capital by Rs 1.68 crore to Rs 123.67 crore, while all 14 recipients were classified as non-promoters and two investors received 50,00,000 shares each.

What to watch next is not specified in the 30 October 2026 disclosure: String Metaverse did not disclose a use-of-proceeds plan, another issuance target or a scheduled post-allotment event. The stated approval sequence is complete, with the board decision, BSE in-principle approval, shareholder resolution and allotment all having occurred by 30 October 2026.