Resignation of CFO

Ceo ResignedCfo ResignedCeo Appointed ExternalKmp ResignedManagement Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-2.5%Reaction day

₹26.05

prior close

₹24.75

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%-2.7% vs market

IT Enabled Services peers, median of 70sector-0.0%-2.4% vs sector

On the reaction day the stock moved 2.7 pts less than Nifty Microcap 250 and 2.4 pts less than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · IT Enabled Services peers, median of 70Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

String Metaverse Ltd announced a major leadership reshuffle at its board meeting on 8 September 2025. The CEO Mr. Sai Santosh Althuru and CFO Mr. Meenavalli Krishna Mohan both stepped down for personal and professional reasons, though both will continue as Executive Directors. Independent Director Mr. Hemant Prabhudas Vastani also resigned from the board. To fill the gaps, the company appointed Mr. Raghavendra Hunasgi (ex-Infosys, co-founder of Zeebu) as the new CEO and Mr. Amar Kumar as a new Independent Director for a five-year term. Notably, former Independent Director Mr. Vastani has been appointed as the new CFO effective 1 October 2025. The shareholder resolution to appoint Mr. Vastani as Independent Director at the upcoming 26 September AGM has been withdrawn.

Likely market impact

Sharp one-day turnover at the top — both KMPs (CEO and CFO) resigned simultaneously, which may concern investors, but the quick appointment of high-profile replacements (a globally experienced CEO and a veteran chartered accountant as CFO) suggests the company is proactively restructuring its leadership. Existing executives retain board seats, so continuity is partially preserved.