SMString Metaverse534535EGM

EGM held; preferential issue of up to 8,32,03,383 shares at ₹8.85 each placed for approval

String Metaverse Ltd held its Extra-Ordinary General Meeting on Thursday, October 15, 2026 at 11:30 A.M. (IST) through video conferencing.

By ScoutQuest · Thu 15 Oct 2026, 1:27 PM IST · 2 min read

Shares proposed for preferential issue

Up to 8,32,03,383 equity shares of face value ₹1/- each

Issue price per share

₹8.85/- per share

Aggregate issue size

aggregating up to about ₹73.63 crore

An Extra-Ordinary General Meeting of String Metaverse Ltd was held on Thursday, October 15, 2026 at 11:30 A.M. (IST) through Video Conferencing / Other Audio-Visual Means, and concluded at 12:10 P.M. (IST). The meeting was chaired by Mr. Deenadayal Tripurasetty, Independent Director.

What was placed before the members

• One item of Special Business: issue of equity shares on a preferential basis, a Special Resolution.
• Up to 8,32,03,383 fully paid-up equity shares of face value ₹1/- each.
• At an issue price of ₹8.85/- per equity share, including a securities premium of ₹7.85/- per equity share.
• Aggregating up to approximately ₹73.63 crore.
• The proposal is for issue and allotment on a preferential basis by way of private placement for cash consideration, to the identified proposed allottees, subject to applicable approvals and regulatory requirements.

Who attended

• 72 members were present at the meeting.
• The Chairman, Independent Directors, a Non-Executive Non-Independent Director, the Managing Director and an Executive Director were present. The CEO, the Company Secretary & Compliance Officer, the CFO, the Statutory Auditors and the Secretarial Auditors were also present.

How the voting was conducted

• Remote e-voting was provided through Central Depository Services (India) Limited.
• The cut-off date for determining eligibility of members to vote was Thursday, October 08, 2026.
• Remote e-voting commenced on Saturday, October 10, 2026 at 9:00 A.M. (IST) and concluded on Wednesday, October 14, 2026 at 5:00 P.M. (IST).
• Members attending the EGM who had not voted remotely could vote through the e-voting facility available during the meeting, which remained open for 15 minutes after the conclusion of the meeting.
• Mr. Desina Balarama Krishna, Practising Company Secretary, representing M/s. Balaramakrishna & Associates, was appointed as the Scrutinizer to scrutinize the remote e-voting and e-voting during the EGM.

What happens next

• The Scrutinizer will consolidate the votes cast through remote e-voting and e-voting during the EGM and submit the Consolidated Scrutinizer's Report.
• The voting results, together with the Scrutinizer's Report, will be submitted to BSE and made available on the websites of the Company and CDSL in accordance with the applicable regulatory requirements.
• The e-voting facility during the meeting was to remain open for 15 minutes after the conclusion of the meeting.

How a retail investor can read this

• The meeting itself was procedural: a single Special Resolution was put to the members and the formal proceedings were completed.
• The substance for shareholders is the preferential issue being voted on: up to 8,32,03,383 new equity shares at ₹8.85 each, including a securities premium of ₹7.85 per share, for up to about ₹73.63 crore in cash consideration.
• Because the issue would add new shares to the existing share count, shareholders typically track such issuances for the effect on their holding.
• The actual voting outcome is expected through the separate disclosure of the voting results and the Consolidated Scrutinizer's Report.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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