String Metaverse Ltd has announced a preferential issue of 8.32 crore equity shares to 21 non-promoter investors at Rs 8.85 per share. This fundraising exercise, totaling Rs 73.63 crore, is subject to shareholder approval at an EGM scheduled for October 15, 2026. Investors should track how the capital is deployed and consider the potential equity dilution resulting from the issuance.
String Metaverse Plans Rs 73.63 Crore Capital Raise
String Metaverse Ltd is set to issue 8,32,03,383 equity shares at Rs 8.85 each, raising a total of Rs 73.63 crore.
Reader Takeaway: The capital infusion strengthens the balance sheet, but investors must monitor equity dilution and management's deployment strategy.
What just happened
The Board of Directors of String Metaverse Ltd approved a preferential issue of shares to 21 non-promoter investors during their meeting on September 17, 2026. The issue price of Rs 8.85 per share includes a premium of Rs 7.85 over the face value of Rs 1.
Why this matters
This private placement is designed to inject fresh capital into the company. The primary beneficiary of this issue is Altius Global Finance Private Limited, which is slated to receive 5,42,37,288 shares. Other investors, including Kamal Jagdish Gupta, Sonal Kamal Gupta, and Hello Money Advisors LLP, are also participating in this round.
What changes now
The company must now secure formal approval from its shareholders. An Extra-Ordinary General Meeting (EGM) is scheduled for October 15, 2026, at 11:30 A.M. (IST) via video conferencing. Balaramakrishna & Associates have been appointed as the scrutinizer for the e-voting process.
Risks to watch
Investors should be mindful of the dilution impact on existing shareholdings. Furthermore, the company has yet to detail the specific operational goals or projects where these funds will be deployed. Monitoring the post-EGM updates regarding the actual receipt and utilization of these funds is critical for assessing long-term impact.