India PR Distribution
Hyderabad (Telangana) [India], June 5: String Metaverse Limited (BSE: META) today announced that its shareholders have approved a Special Resolution for an exclusive bonus issue to public shareholders in the ratio of 2 Bonus Equity Shares for every 9 Equity Shares held, marking a significant milestone in the Company’s efforts to achieve the prescribed 25% Minimum Public Shareholding (MPS) requirement.
The e-voting process concluded on June 04, 2026, with an overwhelming majority of shareholders voting in favor of the proposal. The Company has submitted the voting results together with the Scrutinizer’s Report to the stock exchanges in accordance with applicable regulatory requirements.
The Company fixed June 19, 2026 as the Record Date for determining the eligibility of public shareholders entitled to receive the bonus shares.
A Landmark Corporate Action for Public Shareholders:
The approved bonus issue represents one of the rare instances in Indian capital market history where bonus shares are being issued exclusively to public shareholders, while the promoter and promoter group have voluntarily waived their entitlement.
The initiative has been designed to increase public shareholding, facilitate compliance with regulatory requirements, and reward public investors who have participated in the Company’s growth journey. Upon implementation, the bonus issue is expected to assist the Company in moving toward compliance with the prescribed Minimum Public Shareholding norms while further broadening public ownership.
Management Commentary:
Commenting on the development, Dr. Raghavendra Hunasgi, Chief Executive Officer (CEO) of String Metaverse Limited, said:
“We are grateful for the strong support received from our shareholders. The approval of this special resolution represents an important milestone in our efforts to enhance public participation and achieve the prescribed Minimum Public Shareholding norms.
This unique initiative reflects our commitment to creating long-term value for public investors while strengthening the Company’s capital market profile. As we continue to expand our global footprint, we remain focused on executing our long-term growth strategy across AI infrastructure, digital assets, Web3 ecosystems, gaming platforms, agentic technologies, and next-generation financial infrastructure.
We thank our shareholders for their continued trust and support as we build String Metaverse into a globally scalable technology and digital infrastructure platform.”
Key Highlights:
– Bonus Ratio: 2 Bonus Shares for every 9 Equity Shares held by eligible public shareholders
– Record Date: June 19, 2026
– Approval: Special Resolution passed with overwhelming shareholder support through e-voting
– Objective: Achievement of the prescribed 25% Minimum Public Shareholding requirement
– Promoter Participation: Promoter and promoter group have voluntarily waived their entitlement to the bonus issue
– Beneficiaries: Eligible public shareholders of the Company
About String Metaverse Limited:
String Metaverse Limited is a global technology and digital infrastructure company focused on AI economies, agentic infrastructure, digital assets, Web3 ecosystems, gaming platforms, algorithmic finance, and next-generation financial infrastructure. The Company operates across India, Hong Kong, Singapore, UAE, and Canada through its expanding portfolio of technology-driven businesses and digital platforms.
Forward-Looking Statement:
Certain statements contained in this release may constitute forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. String Metaverse Limited undertakes no obligation to publicly update any forward-looking statements except as required under applicable law.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by India PR Distribution. ANI will not be responsible in any way for the content of the same.)
Related reading
