Spacenet Enterprises India Limited has informed regarding Disclosure of material issue
SPCENET · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Spacenet Enterprises India Limited has disclosed an Offer for Sale (OFS) of up to 30,00,000 equity shares of Rs.10/- each in String Metaverse Limited. The shares being sold represent 2.58% of the total issued equity share capital of String Metaverse Limited. The sale is being conducted by the Promoter Group through the stock exchange mechanism to achieve Minimum Public Shareholding compliance. The OFS is expected to be completed by 22nd April 2026. The transaction is explicitly stated as not being a related party transaction.
This is a promoter group divestment to meet public shareholding norms. The sale involves a relatively small stake (2.58%) and is unlikely to have significant impact on Spacenet's financials. For shareholders, this indicates compliance action rather than any operational concern.