String Metaverse Preferential Issue: ₹73.63 Cr Plan

What the company disclosed to exchanges

String Metaverse Ltd (BSE: 534535) has informed the exchange that its board has approved a preferential issue of equity shares under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The proposal involves issuing up to 8,32,03,383 fully paid-up equity shares to identified non-promoter investors on a private placement basis. The company said the issue price is fixed at ₹8.85 per share. Based on the disclosed terms, the fundraise aggregates to ₹73.63 crore. The preferential issue is not yet final and remains subject to shareholder approval and necessary regulatory consents.

Board meeting outcome and the funding proposal

The board decision was taken in a meeting held on September 17, 2026. The agenda, as previously disclosed, included considering proposals for raising funds through equity shares or other eligible securities. It also included approving a notice for an Extra-Ordinary General Meeting (EGM) to seek shareholder approval for the fundraising. After the meeting, the company disclosed the preferential allotment structure and the EGM schedule. The company’s filing positions the transaction as a capital raise through equity issuance, which typically results in dilution for existing shareholders once the shares are allotted.

Issue size, price, and premium details

As per the disclosure, the company plans to issue 8.32 crore equity shares at ₹8.85 each. The equity shares have a face value of ₹1 per share, and the securities premium is stated at ₹7.85 per share. This clarifies that most of the issue price is accounted for as share premium rather than face value. As of September 19, 2026, String Metaverse’s share price was ₹8, as cited in the provided market snapshot. Relative to that reference price, the preferential issue price of ₹8.85 is higher by ₹0.85 per share, based on a direct arithmetic difference.

Who will receive the shares

The proposed allotment is to 21 identified non-promoter investors. The disclosure also provides details of larger proposed allottees. Altius Global Finance Private Limited is slated to receive 5,42,37,288 shares, which the document describes as about 65% of the proposed fresh issue. Other named investors include Kamal Jagdish Gupta and Sonal Kamal Gupta, who are proposed to receive 50 lakh shares each. Additional proposed allottees listed include Hello Money Advisors LLP (40,39,548 shares), Palatla Bharath Kumar (30 lakh shares), R R Food Import LLP (29,09,604 shares), and Rina Jain (18,07,909 shares). The company’s disclosure indicates that the placement is concentrated, with one investor accounting for a substantial portion of the proposed issue.

Shareholder approval: EGM date, time, and process

String Metaverse has scheduled an EGM on October 15, 2026 at 11:30 am (IST) through video conferencing to seek member consent for the preferential issue. The company stated the proposal is subject to shareholder approval and requisite regulatory consents. M/s Balaramakrishna & Associates has been appointed as the scrutinizer for the remote e-voting process during the EGM. The company has not stated that the allotment is completed; the disclosed process indicates that the company is at the approval and notice stage.

AGM schedule and e-voting arrangements

Separately, String Metaverse has also scheduled its 32nd Annual General Meeting (AGM) for September 25, 2026 at 11:30 am through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) to transact business for the financial year ended March 31, 2026. The company has engaged Central Depository Services (India) Limited (CDSL) to provide remote e-voting facilities. The cut-off date for determining voting eligibility is Friday, September 18, 2026. Remote e-voting is scheduled to commence on Sunday, September 20, 2026 at 9:00 am and end on Thursday, September 24, 2026 at 5:00 pm.

What is not disclosed in the filing

While the company has provided the number of shares, price, premium, investor count, and meeting details, some operating details are not included in the shared text. The disclosure notes that the use of funds, valuation rationale, and funding of balance are not disclosed. Investors typically look for such information to understand how fresh equity proceeds may be deployed and what assumptions underpin the pricing. Based on the information provided, readers can only rely on the allotment terms and the approval timeline.

Key facts table

Proposed allotment highlights (named investors)

Market impact: what the numbers imply

The immediate market relevance is the proposed issuance of 8.32 crore new shares, which would increase the equity base after allotment and can dilute existing holdings. The issue price of ₹8.85 sets a clear reference point for how the company is pricing capital for incoming investors. The presence of a single large allottee receiving 5.42 crore shares, described as roughly 65% of the issue, highlights concentration in the proposed placement. The next formal step is shareholder voting at the October 15 EGM, after which the company would need to proceed with regulatory compliances and allotment actions as applicable.

Conclusion

String Metaverse’s board has approved a ₹73.63 crore preferential issue at ₹8.85 per share to 21 identified non-promoter investors, with shareholder approval pending. The company has fixed October 15, 2026 for the EGM via video conferencing and appointed Balaramakrishna & Associates as scrutinizer for e-voting. Investors tracking the development will likely focus on the EGM outcome and any subsequent disclosures required for completing the allotment process.