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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
String Metaverse Ltd (formerly Bio Green Papers Ltd, BSE: 534535) announced the successful closure of its Rights Issue, which was offered to public shareholders to meet the Minimum Public Shareholding (MPS) requirement. The issue of 94,71,445 shares was oversubscribed up to ₹100 crore, with the company raising ₹49.25 crore. After the issue, public shareholding in the company will increase to 19%. The company also confirmed it has received Ministry of Corporate Affairs (MCA) approval for its name change from Bio Green Papers Ltd to String Metaverse Ltd and has applied to BSE to update the name in stock exchange records.
Strong investor demand for the Rights Issue signals confidence in the company's Web 3.0 business and helps it move closer to compliance with the 19% minimum public shareholding rule. The formal name change approval may improve the stock's identity alignment with its current business focus.