Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
String Metaverse Limited filed a quarterly update on the use of proceeds from its Rights Issue, which raised ₹4,925.15 lakhs on May 5, 2025. The company confirmed there is no deviation or variation in fund utilization compared to the original objects stated in the offer document. The Audit Committee reviewed and noted full compliance. Of the total raised, ₹3,022.27 lakhs has been spent on capital expenditure (overseas subsidiary investments), with ₹645.85 lakhs still unutilized. Additionally, ₹300.10 lakhs was reallocated from Issue-Related Expenses to General Corporate Purpose, staying within the 25% permissible limit.
This is a routine compliance filing confirming that Rights Issue funds are being used as promised. Investors should note that nearly ₹859 lakhs (about 17%) of the raised amount remains unutilized, which may be deployed in coming quarters. No negative price impact is expected as there is no deviation from stated objectives.