String Metaverse gets BSE in-principle approval for preferential issue

String Metaverse Limited has received in-principle approval from BSE for its proposed preferential issue of equity shares to non-promoter investors. The approval, referenced by BSE Letter No. LOD/PREF/RB/FIP/948/2026-27 dated 14th October 2026, pertains to the issue of 8,32,03,383 equity shares at a price not less than ₹8.85 per share. BSE has advised the company to strengthen internal controls to monitor trades by proposed allottees and obtain undertakings from them to avoid intra-day trading or sale of shares until the allotment date. The company must ensure strict compliance with all relevant SEBI regulations, including ICDR and LODR regulations, and obtain necessary statutory approvals. Failure to comply may impact the listing of the shares.