String Metaverse Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 21/05/2025 ,inter alia, to consider and approve To consider, discuss and approve ....
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String Metaverse Ltd (formerly Bio Green Papers Limited) has informed BSE that its Board of Directors approved a proposal for a Rights Issue of equity shares on May 15, 2025. A Rights Issue Committee meeting is scheduled for May 21, 2025 to finalise the key terms of the issue. The committee will decide on the rights issue price, payment mechanism, issue size, rights entitlement ratio, record date, issue opening and closing dates, and the Letter of Offer. No specific pricing, discount, or ratio details have been disclosed yet. The BSE script code is 534535.
Existing shareholders should watch the May 21 meeting closely, as the issue price and entitlement ratio will determine the dilution impact and cost of participating in the rights issue. A rights issue can be value-neutral or dilutive depending on the discount to market price and whether shareholders fully subscribe.