String Metaverse Shareholders Back Capital Boost and Stock Split

String Metaverse Ltd. announced March 22, 2026, that its shareholders have overwhelmingly approved three crucial ordinary resolutions put forth via postal ballot. The voting saw an exceptional turnout, with 62,543,261 shares voting in favor and only a single share dissenting across all resolutions during the e-voting period from February 21 to March 22, 2026.

The approved resolutions clear the way for significant capital restructuring:

• Increased Authorized Share Capital: The company's authorized share capital will be raised from ₹130 crore to ₹200 crore. This expansion provides crucial financial flexibility for future funding needs, strategic investments, and growth initiatives.
• Equity Share Sub-division (Split): The company's equity shares will be sub-divided, reducing the face value from ₹10 to ₹1 per share. This move aims to make the stock more accessible and affordable for a broader range of investors, potentially boosting trading liquidity.
• Memorandum of Association Amendments: Necessary updates will be made to the company's Memorandum of Association to reflect these changes in its capital structure.

Company Background and Recent Performance

String Metaverse Ltd., formerly known as Bio Green Papers Limited, has undergone a significant transformation from its origins in paper manufacturing to a focus on next-generation digital infrastructure, including Web 3.0, online gaming, blockchain, and fintech.

These capital restructuring proposals are integral to the Resolution Plan previously approved by the National Company Law Tribunal (NCLT) following the company's Corporate Insolvency Resolution Process (CIRP).

The company recently reported strong financial results for the third quarter of FY26, with revenue reaching ₹278.35 crore and a net profit of ₹27.89 crore, demonstrating substantial year-on-year growth.

Strategic Importance and Future Outlook

The shareholder approvals are fundamental for String Metaverse's future financial maneuverability. The enhanced authorized capital positions the company to raise necessary funds for expansion and strategic objectives. Simultaneously, the stock split is designed to improve market accessibility and potentially increase trading volumes.

Risks and Market Context

Despite this strong shareholder endorsement, the company's past experience with CIRP underscores the importance of robust execution of its growth strategies. The rapidly evolving and often volatile technology and metaverse sectors also present inherent market risks.

String Metaverse operates in a dynamic digital technology landscape that includes major Indian IT firms like Infosys, TCS, Wipro, and Tech Mahindra, who are also exploring metaverse and Web3 opportunities. The trend of stock splits is common across the Indian market, with many companies using them to enhance share liquidity.

What to Track Next

Investors will be closely watching for:

• The company's formal announcement of the equity share sub-division implementation schedule.
• Details on how the increased authorized share capital will be strategically deployed.
• Any subsequent corporate actions or strategic developments arising from these capital changes.
• The market's reaction to the stock split and its impact on trading liquidity.