String Metaverse Limited Schedules Board Meeting to Consider Bonus Equity Shares Issuance

String Metaverse Limited has informed BSE Limited about an upcoming board meeting scheduled for April 29, 2026, where directors will consider and approve a proposal for issuance of bonus equity shares. The announcement, made on April 24, 2026, comes in compliance with Regulation 29 and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Strong OFS Performance Drives Bonus Consideration

The bonus share proposal follows the successful completion of the company's Offer for Sale (OFS) of equity shares, which demonstrated exceptional investor interest across categories:

Investor Category Date Subscription Rate Non-Retail Investors April 21, 2026 Approximately 149% Retail Investors April 22, 2026 Approximately 495%

The robust participation from retail investors particularly reflects sustained investor confidence in String Metaverse Limited's growth prospects and strategic direction. This strong response has prompted the board to consider rewarding public shareholders through the bonus issue mechanism.

Bonus Issue Structure and Objectives

The proposed bonus equity shares issuance is designed with specific strategic objectives in mind. The company has indicated that the structure will be aimed at enhancing participation of public shareholders, with promoters potentially foregoing or renouncing their entitlement to the bonus shares, subject to applicable approvals.

Current Status Target Public Shareholding Approximately 21.48% MPS Requirement 25% Compliance Goal SEBI regulations

The bonus issue serves dual purposes of rewarding public shareholders for their strong participation and continued support while enhancing public shareholding to achieve the prescribed 25% Minimum Public Shareholding (MPS) requirement in accordance with applicable SEBI regulations.

Regulatory Compliance and Structure

String Metaverse Limited has emphasized that the bonus issue will be implemented subject to necessary approvals and in compliance with applicable laws and regulations, including SEBI Circular No. SEBI/HO/CFD/PoD2/P/CIR/2023/18 dated February 03, 2023. The company's approach demonstrates its commitment to regulatory compliance while maximizing benefits for public shareholders.

The proposed structure includes provisions for promoters to forgo their entitlement, which would directly increase the effective benefit to public shareholders and accelerate the achievement of minimum public shareholding requirements. This mechanism is specifically designed to facilitate compliance with MPS requirements while rewarding the investor community that demonstrated strong confidence during the OFS.

Company Background

String Metaverse Limited, formerly known as Bio Green Papers Limited, operates as a Web3.0 enterprise and is incorporated under CIN L62099TG1994PLC017207. The company is headquartered in Hyderabad, Telangana, and has been actively engaging with capital markets to support its growth initiatives in the metaverse and Web3.0 space.

String Metaverse Limited has informed BSE Limited about the allotment of a new International Securities Identification Number (ISIN) for its equity shares following the sub-division of shares. The company, formerly known as Bio Green Papers Limited, has subdivided its equity shares from a face value of ₹10 each to ₹1 each in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The new ISIN number INE958L01034 has been assigned to the sub-divided equity shares of String Metaverse Limited. This new identification number will become effective for all trading activities conducted on and from 24 April 2026. The announcement serves as a continuation of the company's earlier disclosures regarding the share split process.

Key Details of the Share Sub-Division

Company Name & Scrip Code New ISIN No. Remarks String Metaverse Limited (534535) INE958L01034 Sub-Division of Equity Shares from ₹10 each to ₹1 each

The BSE notice, numbered 20260420-6 and dated 20 April 2026, categorizes this corporate action under the Equity segment. The exchange has informed trading members about the new ISIN assignment, which will be operational from the ex-date of 24 April 2026. The notice reference DR-617/2026-2027 has been recorded for this corporate action.

String Metaverse Limited, with scrip code 534535, is headquartered in Hyderabad, Telangana. The company's registered office is located at Sy.No 66/2, Street No.03, 2nd floor, Rai Durgam, Prashanth Hills, Nav Khalsa, Gachi Bowli, Hyderabad. The communication was signed by M. Chowda Reddy, Company Secretary & Compliance Officer of the company.

Notice Information

Particulars Details Notice No. 20260420-6 Notice Date 20 Apr 2026 Category Corporate Actions Segment Equity Department Listing Operations

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