String Metaverse Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/05/2025 ,inter alia, to consider and approve Terms of Proposed Rights Issue.
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String Metaverse Ltd (formerly Bio Green Papers Ltd) has rescheduled the meeting of its Rights Issue Committee from May 21, 2025 to May 24, 2025. The committee will decide on the terms and conditions of a proposed Rights Issue of equity shares, including the issue price, entitlement ratio, record date, opening and closing dates, and the Letter of Offer. The meeting was postponed because the company is still waiting for in-principle approval from BSE for the proposed issue. The board had earlier approved the Rights Issue proposal on May 15, 2025.
Existing shareholders should watch for the record date announcement, as they may get an opportunity to subscribe to the Rights Issue. The actual terms (price, ratio, discount) are not yet disclosed, so dilution risk and pricing impact cannot be assessed until the committee meeting on May 24.