SYNOPSIS: Promoters plan to sell 3.27 percent stake via OFS to meet minimum public shareholding norms, reducing holding to 78.52 percent, though public shareholding will still remain below the regulatory requirement of 25 percent.
During Tuesday’s trading session, shares of a blockchain infrastructure and artificial intelligence-driven financial technology company hit a 5 percent lower circuit on BSE, after the company’s promoters proposed the sale of a 3.27 percent stake via Offer for Sale (OFS) for achieving Minimum Public Shareholding (MPS).
With a market cap of Rs. 882 crores, shares of String Metaverse Limited hit a 5 percent lower circuit at Rs. 75.75 on BSE, compared to its previous closing price of Rs. 79.7. The stock has delivered negative returns of around 17 percent in the last one year, and has fallen by over 34 percent in one month.
What’s the News:
As per its latest disclosure in the BSE, String Metaverse Limited informed that its promoter group has proposed to divest a portion of its shareholding through an Offer for Sale (OFS) via the stock exchange mechanism. The move is aimed at progressing towards compliance with the minimum public shareholding (MPS) requirements prescribed under regulatory norms. The promoters intending to participate in the OFS include Spacenet Enterprises India Ltd., Y. Venkata Subba Rao, Lanka Divyabharathi, and Pendurthi Annapurna.
Under the proposed offer, up to 38,10,000 equity shares, representing 3.27 percent of the company’s total paid-up equity share capital, will be divested. The promoter shareholding is expected to reduce from 81.79 percent prior to the OFS to around 78.52 percent post completion. The floor price for the offer has been fixed at Rs. 66 per share.
The OFS is scheduled to take place over two trading days, from 21st April 2026 (T day) to 22nd April 2026 (T+1 day), or earlier upon completion of the sale.
Post the OFS, the public shareholding is expected to increase to 21.48 percent. However, this remains below the minimum 25 percent public shareholding requirement mandated under Regulation 38 of the SEBI (LODR) Regulations, 2015.
Financials & More:
String Metaverse Limited is engaged in the business of Web 3.0 solutions, e-gaming, and blockchain technologies, and operates predominantly in the digital infrastructure. Further, the company utilises renewable energy-powered data centres, thereby significantly lowering its carbon footprint and supporting sustainable growth in the digital economy.
The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of around 140 percent, from Rs. 116 crores in Q3 FY25 to Rs. 278 crores in Q3 FY26. The revenue growth is driven by scale across Web3 gaming, compute infrastructure, and digital advisory segments.
Likewise, its net profit increased during the same period from Rs. 10 crores to Rs. 28 crores, representing an impressive rise of just around 180 percent YoY and indicating stronger bottom-line efficiency.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post String Metaverse Stock Hits 5% Lower Circuit After Promoters Plan to Offload 3.27% Stake appeared first on Trade Brains.