Update on Sale of Equity shares by Promoter Group through OFS For Achieving 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 completed the sale of 38,10,000 equity shares (3.27% of paid-up capital) via an Offer for Sale (OFS) on April 21–22, 2026. Four promoter entities divested shares: Spacenet Enterprises India Ltd (30 lakh shares), Y. Venkata Subba Rao (5 lakh), Lanka Divyabharathi (2.1 lakh), and Pendurthi Annapurna (1 lakh). Following the sale, promoter holding reduced from 81.79% to 78.52%, while public shareholding rose to 21.48%. The company states it is committed to meeting the mandatory 25% Minimum Public Shareholding (MPS) requirement under SEBI regulations within the stipulated timeline.
The promoter stake sale reduces promoter holding below 80%, signalling continued dilution of promoter control. Public shareholding is still below the mandatory 25% MPS threshold, implying further share sales or equity issuance may follow, which could keep stock under pressure.