String Metaverse Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 29/04/2026 ,inter alia, to consider and approve Bonus Issue.
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String Metaverse Ltd has scheduled a board meeting on April 29, 2026 to consider and approve a bonus equity share issuance. This follows a successful Offer for Sale that was oversubscribed, with non-retail investors subscribing 149% and retail investors a remarkable 495%. The company currently has public shareholding of approximately 21.48%, which is below the SEBI-mandated 25% Minimum Public Shareholding (MPS) requirement. The bonus issue is structured to boost public shareholding while rewarding shareholders, with promoters potentially forgoing their entitlement. The exact bonus ratio has not been specified in this filing.
If approved, the bonus issue will reward existing shareholders with additional shares, potentially improve stock liquidity, and help the company comply with MPS norms. The market typically reacts positively to bonus announcements as they signal company confidence and provide shareholders with additional equity without cost.