This disclosure, made pursuant to Regulation 30 of the SEBI LODR Regulations, details the outcomes of the Board of Directors meeting of String Metaverse Limited held on Thursday, 17th September 2026. The meeting commenced at 11:30 AM IST and concluded at 01:30 PM IST.

Key Decisions and Quantitative Figures

1. Fundraising via Preferential Issue: The Board approved a proposal to raise funds by issuing up to 8,32,03,383 (Eight Crore Thirty-Two Lakh Three Thousand Three Hundred and Eighty-Three) fully paid-up equity shares.

  • Face Value: ₹1 per share.
  • Issue Price: ₹8.85 per equity share.
  • Securities Premium: ₹7.85 per share.
  • Total Issue Size: ₹73,63,49,939 (Rupees Seventy-Three Crore Sixty-Three Lakh Forty-Nine Thousand Nine Hundred Thirty-Nine).
  • Basis of Issue: Preferential allotment through private placement.
  • The issuance is subject to approvals from shareholders and relevant regulatory/statutory authorities.

2. Extraordinary General Meeting (EGM): The Board approved convening an EGM of the company's members.

  • Date of EGM: Thursday, 15th October 2026.
  • Time of EGM: 11:30 AM IST.
  • Mode of EGM: Video Conferencing (VC)/Other Audio-Visual Means (OAVM).
  • Agenda: To seek member approval for the preferential issue and other matters detailed in the notice.

3. Appointment of Scrutinizer: The Board approved the appointment of M/s. Balaramakrishna & Associates, Practicing Company Secretaries, as the Scrutinizer to conduct the e-voting process for the EGM in a fair and transparent manner.

Details of Preferential Allotment (Annexure I)

Pursuant to the SEBI Master Circular, the following specifics of the preferential issue were disclosed:

  • Type of Security: Fully paid-up Equity Shares of face value ₹1 each.
  • Type of Issuance: Preferential issue on a private placement basis.
  • Total Number of Securities: 8,32,03,383 Equity Shares.
  • Total Issue Amount: ₹73,63,49,939.
  • Number of Investors: 21.
  • Details of Allottees: The proposed allotment is to 21 entities/individuals, all classified as Non-Promoters. The details are provided in Table A. The total number of shares proposed to be allotted is 8,32,03,383. Two allottees, Bommareddy Veera Venkata Sivakumar Reddy and Palatla Bharath Kumar, hold an existing shareholding of 1,28,333 shares. The post-allotment holding for all allottees is detailed in the table, summing to 8,33,31,716 shares.

Parties Involved

  • Stock Exchange: BSE Limited.
  • Scrutinizer: M/s. Balaramakrishna & Associates.

Financial and Capital Structure Impact

The issuance of 8.32 crore new equity shares will lead to a dilution of the existing share capital. The exact percentage of dilution and the post-issue capital structure are not quantified in this disclosure. The transaction will result in a cash inflow of ₹73.63 crore for the company upon completion.