String Metaverse: No Deviation in Rights Issue Fund Utilization
String Metaverse Limited (formerly Bio Green Papers Limited) has filed its Fund Utilization Report for the quarter ended September 30, 2026. The company confirms there has been no deviation or variation in the utilization of proceeds from its Rights Issue, amounting to ₹4,925.15 Lakhs (₹49.25 Crore), raised on May 5, 2025. The utilization has been reviewed and noted by the Audit Committee. Funds were allocated to Capital Expenditure for overseas subsidiaries (₹3,668.12 Lakhs), General Corporate Purpose (₹1,217.13 Lakhs, including a ₹300.10 Lakhs reallocation from Issue-Related Expenses), and Issue-Related Expenses (₹23.76 Lakhs). All allocations remained within the stated objects and permissible limits.
Key Highlights
- No deviation in Rights Issue fund utilization for Q2 FY27.
- Total Rights Issue proceeds were ₹4,925.15 Lakhs (₹49.25 Crore).
- Funds utilized for capital expenditure and general corporate purposes.
- Audit Committee confirmed no variation in fund usage.
- Reallocation to General Corporate Purpose within limits.
Price Impact
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