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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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String Metaverse Ltd reported blockbuster FY2024-25 results, with revenue jumping 169.40% year-on-year to ₹407.36 crore (from ₹151.21 crore) and net profit rising 225.79% to ₹35.35 crore (from ₹10.82 crore). The company, which calls itself India's first listed Web 3.0 firm, also announced a $50 million investment in global cloud data centres to host blockchain validation nodes across major networks like Ethereum, Solana, Bitcoin, and Avalanche. In a bold move, it plans to convert its entire global treasury reserves into digital assets including Bitcoin, Ethereum, Solana, stablecoins, and tokenized gold/real estate. Over the next three years, it aims to raise $2 billion via convertible notes, ADRs/GDRs, and FCCBs to fund these initiatives, and public shareholding recently rose from 10.97% to 18.21% via an oversubscribed rights issue.
The strong earnings and ambitious Web 3.0 strategy could attract speculative interest and boost short-term stock sentiment, but the $50M capex, $2B fund-raising plan, and unproven digital-asset treasury strategy carry significant execution and crypto-market risk for retail shareholders.