Announcement of Regulation 30of SEBI LODR
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String Metaverse's board, at its meeting on May 15, 2025, approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with the statutory auditor issuing an unmodified opinion. On a standalone basis, revenue from operations rose sharply to ₹1,235.44 lakhs (FY24: ₹437.94 lakhs), but profit after tax fell to ₹32.00 lakhs (FY24: ₹66.03 lakhs) due to higher employee, depreciation and other expenses. On a consolidated basis (including four subsidiaries across India, Hong Kong and UAE), revenue jumped to ₹40,735.94 lakhs (FY24: ₹15,121.15 lakhs) and profit tripled to ₹3,524.56 lakhs, with EPS at ₹3.37 versus ₹1.12. The board also approved a Rights Issue of equity shares (face value ₹10) for up to ₹60 crores and a broader plan to raise up to USD 2 billion over three years through instruments such as ADRs, GDRs, FCCBs, preferential allotment or private placement. M/s. Pawan Jain & Associates was appointed as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30), subject to shareholder approval.
Shareholders get a mixed picture: consolidated business is scaling rapidly with profits tripling, but standalone profits have shrunk and significant dilution is on the cards through a ₹60 crore rights issue plus a much larger USD 2 billion (≈₹16,000+ crore) fund-raising plan. The rights issue and any preferential/private placement would dilute existing shareholders, though record date and pricing details are still awaited.