String Metaverse Ltd Rights Issue Overwhelmingly Oversubscribed, Raises ₹49.25 Crore

String Metaverse Ltd, a leading Web 3.0 technology company listed on the Bombay Stock Exchange (BSE Symbol: BGPL, Code: 534535), is pleased to announce the successful closure of its Rights Issue, which was overwhelmingly oversubscribed by public investors.

The Rights Issue was offered exclusively to public shareholders to assist the company in achieving the Minimum Public Shareholding (MPS) requirement. Following the successful completion of the issue, the public shareholding in the company will increase to 19%.

A total of 94,71,445 shares were offered under the Rights Issue, with applications received for more than ₹1.79 crore shares, showcasing strong investor confidence and support. The company successfully raised ₹49.25 crore through the issue. Rights Issue was oversubscribed up to ₹100 crore, highlighting the robust demand from the public shareholders.

In a significant development, the company has also received approval from the Ministry of Corporate Affairs for its name change from Bio green Papers Ltd to String Metaverse Ltd.

Subsequently, the company has applied to the BSE for updating its name in the stock exchange records.

String Metaverse Ltd remains committed to creating long-term value for its shareholders and spearheading innovation in the Web 3.0 space.

Shares of String Metaverse Limited was last trading in BSE at Rs. 95.56 as compared to the previous close of Rs. 91.01. The total number of shares traded during the day was 97283 in over 106 trades.

The stock hit an intraday high of Rs. 95.56 and intraday low of 95.54. The net turnover during the day was Rs. 9296303.00.

Source : Equity Bulls

Keywords

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