Proposed Sale of Equity Shares by Promoter Group through OFS to meet MPS.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
String Metaverse Ltd's promoter group plans to sell up to 38,10,000 equity shares (3.27% of paid-up capital) through an Offer for Sale (OFS) on BSE on April 21–22, 2026, with a floor price of ₹66 per share. Sellers include Spacenet Enterprises India Ltd (30 lakh shares), Y. Venkata Subba Rao (5 lakh), Lanka Divyabharathi (2.1 lakh), and Pendurthi Annapurna (1 lakh). The purpose is to comply with the 25% Minimum Public Shareholding rule under SEBI LODR. Post-OFS, promoter holding will fall from 81.79% to 78.52%, leaving public shareholding at only 21.48% — still short of the 25% requirement.
This OFS alone will not fully resolve the MPS shortfall — public holding rises only to 21.48% versus the 25% mandate, meaning more promoter divestment is likely needed and creating uncertainty for shareholders. Retail investors can bid at the floor price of ₹66 on April 22, 2026, but the ongoing compliance gap and continued heavy promoter stake (78.52%) may weigh on liquidity and governance perception.