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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
String Metaverse Ltd's Board has approved in principle a bonus equity share issue in the ratio of 2:9 (two shares for every nine shares held). Uniquely, the promoter and promoter group have voluntarily waived their entitlement to participate, meaning bonus shares will be issued exclusively to eligible public shareholders. The company states this is expected to support compliance with SEBI's Minimum Public Shareholding (MPS) requirement of 25%. The proposal is subject to shareholder, stock exchange, and regulatory approvals. Record date and detailed terms will be announced later. This structure is described as rare in Indian markets.
The promoter waiver effectively transfers value exclusively to public shareholders without dilution to the promoter group, making this a shareholder-friendly move. It may also help the stock meet MPS norms, avoiding potential delisting or trading restrictions. Short-term positive sentiment likely for public shareholders, though final impact depends on approvals.