String Metaverse Ltd will issue 55,588,884 bonus shares in a 2:9 ratio to meet Minimum Public Shareholding norms. The record date is June 19, 2026. This is a procedural move for compliance.

String Metaverse Ltd to Issue Bonus Shares for Compliance

String Metaverse Ltd will issue 55,588,884 bonus equity shares.

Reader Takeaway: Bonus shares for MPS compliance; record date June 19, 2026.

What just happened

String Metaverse Ltd. has secured in-principal approval from the BSE for a bonus share issue. The company plans to issue 55,588,884 bonus equity shares in a ratio of 2 new shares for every 9 existing shares. The face value of each share is Re. 1/-. This corporate action is specifically intended to comply with Minimum Public Shareholding (MPS) requirements.

Why this matters

This bonus issue is primarily a regulatory-driven move to ensure String Metaverse Ltd. meets the minimum public float mandated by regulators. For existing shareholders, it's a procedural step that alters the number of shares they hold without an immediate cash outflow, but it is crucial for the company's continued listing compliance.

The backstory

The company was formerly known as Bio Green Papers Limited. The need for this bonus issue arises from the current shareholding pattern not meeting the required MPS. This compliance is vital for the company's operational and listing status on the stock exchange.

What changes now

Shareholders on record as of June 19, 2026, will be eligible to receive the bonus shares. The total number of outstanding shares will increase, impacting metrics like Earnings Per Share (EPS) and share price, though the intrinsic value per share remains theoretically unchanged immediately post-issue.

Risks to watch

The BSE's approval is conditional. String Metaverse Ltd. must adhere to all stipulated requirements, including submitting listing applications, paying additional listing fees, and ensuring shares are dematerialized. Failure to comply could lead to the withdrawal of approval.

Peer comparison

Bonus issues are common corporate actions to improve liquidity or meet regulatory requirements. Companies often undertake them when their market capitalization is stable and they have sufficient distributable profits or reserves. This move by String Metaverse is directly tied to regulatory compliance rather than organic growth.

Context metrics (time-bound)

• Bonus Shares to be Issued: 55,588,884
• Bonus Ratio: 2:9
• Record Date: June 19, 2026
• Face Value: Re. 1/-

What to track next

Investors should monitor the company's adherence to the conditional approval terms from the BSE. The successful allotment and listing of bonus shares will signify compliance with MPS norms. Watch for any further announcements regarding the dematerialization and listing process.