String Metaverse

String Metaverse Limited has sold its complete shareholding of 1,38,83,568 equity shares in String AI IFSC Private Limited to Axill LLC, a Delaware-based company, for ₹1.84 crores (USD 2.09 lakh). The transaction was completed on September 11, 2025, resulting in String AI IFSC ceasing to be a subsidiary of String Metaverse Limited. String AI IFSC contributed ₹644.13 lakhs in revenue (1.58% of consolidated revenue) and had a net worth of ₹870.23 lakhs (5.39% of consolidated net worth) for the year ended March 31, 2025. The buyer, Axill LLC, is not related to the promoter group, and the transaction does not qualify as a related party transaction.

String Metaverse Limited announced significant leadership changes on September 8, 2025. CEO Sai Santosh Althuru and CFO Meenavalli Krishna Mohan resigned from their executive positions due to personal and professional reasons, though both will continue as Executive Directors on the Board. Independent Director Hemant Prabhudas Vastani also resigned on September 7, 2025. The company appointed Raghavendra Hunasgi as the new CEO, effective September 8, 2025. Hunasgi is co-founder of Zeebu, described as the world's first Web3 Neo Bank for telecom carriers, which achieved a market cap of USD 2.8 billion. Hemant Prabhudas Vastani, despite resigning as Director, was appointed as the new CFO effective October 1, 2025. Vastani is a Fellow Chartered Accountant with 37 years of experience and previously served as CFO at Multi Commodity Exchange of India Ltd. Additionally, Amar Kumar was appointed as Additional Director (Non-Executive & Independent) for a five-year term, subject to shareholder approval. Kumar holds a Master's degree in Mechanical Engineering and has extensive experience in international trade and pharmaceutical business leadership.