Disposal of Subsidiary Company
Price
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String Metaverse Limited has sold its entire 1,38,83,568 equity shareholding (100%) in its wholly-owned subsidiary String AI IFSC Private Limited to Axill LLC, a US-based entity not related to the promoters. The deal was signed and completed on 11th September 2025 for a total consideration of ₹1.84 crore (approximately USD 2.09 lakh). The disposed subsidiary contributed ₹644.13 lakhs in revenue (1.58% of consolidated revenue) and had a net worth of ₹870.23 lakhs (5.39% of consolidated net worth) for FY25. The transaction is not a related-party deal and the subsidiary has ceased to be a subsidiary of the company with effect from 11th September 2025.
For shareholders, this is a minor divestment — the subsidiary was a small contributor to the company's overall revenue (under 2%), and the sale price (₹1.84 crore) is modest in the context of the company's net worth. The move simplifies the group structure and brings in a small cash inflow, but is unlikely to materially move the stock price on its own.