Notice of Offer for Sale (OFS) By Promoter Group
Price
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On the reaction day the stock moved 5.5 pts less than Nifty Microcap 250 and 4.5 pts less than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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String Metaverse Limited has announced an Offer for Sale (OFS) of up to 38,10,000 equity shares (3.27% of paid-up capital) by its Promoter Group, namely Spacenet Enterprises India Limited, Yaralagadda Venkat Subba Rao, Lanka Divyabharathi, and Pendurthi Annapurna. The floor price has been set at ₹66 per share, with no retail discount offered. The OFS will take place on 21st April 2026 for non-retail investors and 22nd April 2026 for retail investors, conducted through a special window on BSE. The stated purpose of the OFS is to help the company meet the minimum public shareholding (MPS) requirement mandated under SEBI rules, which is a regulatory compliance exercise rather than a fundraising activity.
The OFS will increase the public float in String Metaverse, which is positive for liquidity and regulatory compliance. However, the sale by promoters may create short-term supply pressure on the stock. The floor price of ₹66 serves as a key reference point — bids below this price will not be accepted, providing some downside cushion but also indicating the sellers' reserve price.