Notice of Postal Ballot
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String Metaverse Limited has issued a postal ballot notice to shareholders seeking approval for three ordinary resolutions. Resolution 1 proposes increasing the Authorised Share Capital from ₹130 crore (13 crore equity shares of ₹10 each) to ₹200 crore (20 crore equity shares of ₹10 each), creating an additional ₹70 crore worth of shares. Resolution 2 proposes sub-dividing (splitting) each equity share of ₹10 face value into 10 equity shares of ₹1 face value, keeping the total paid-up capital unchanged at ₹116.43 crore but increasing share count from 11.64 crore to 116.43 crore shares. Resolution 3 proposes amending the Capital Clause (Clause V) of the Memorandum of Association to reflect the post-split capital structure. The sub-division is being carried out as part of the Resolution Plan approved by the NCLT Hyderabad Bench on May 28, 2024 under the Insolvency and Bankruptcy Code, 2016, following the company's earlier Corporate Insolvency Resolution Process. E-voting opens on February 21, 2026 and closes on March 22, 2026.
If approved, each existing shareholder will automatically hold 10 shares for every 1 share held, making shares more affordable and liquid for retail investors. The total investment value and ownership percentage of each shareholder will remain unchanged. The increased authorised capital gives the company room to raise additional equity funding in the future.