String Metaverse Limited has appointed Dr. Sethurathnam Ravi as Director Emeritus with effect from October 20, 2026. The appointment is in an honorary and advisory capacity, aiming to provide strategic guidance to the company.

Dr. Ravi brings over 37 years of board-level experience across banking, financial services, and capital markets. His association is expected to offer professional insights to support the company's long-term business objectives.

Profile and expertise

Dr. Ravi is a Fellow Chartered Accountant with a Doctorate in Finance and Commerce. He previously served as Chairman of BSE Limited and UTI Trustee Company Private Limited. He is also the Founder of Ravi Rajan & Co. LLP.

His areas of expertise include:

• Corporate governance
• Audit and risk management
• Mergers and acquisitions
• Valuation and corporate restructuring

Particulars of the association

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there are no relationships between Dr. Ravi and other directors.

String Metaverse Limited shareholders approved a preferential issue of 8,32,03,383 equity shares at an Extra-Ordinary General Meeting (EGM) held on October 15, 2026. The special resolution authorizes the allotment to non-promoter investors at ₹8.85 per share, raising approximately ₹73.63 crore.

The meeting, conducted via Video Conferencing/Other Audio-Visual Means (VC/OAVM), commenced at 11:30 am and concluded at 12:10 pm. Mr. Deenadayal Tripurasetty, Independent Director, chaired the session. Voting results and the Consolidated Scrutinizer's Report were submitted to BSE on October 16, 2026, in accordance with SEBI Listing Regulations.

Regulatory conditions and compliance

BSE had previously granted in-principle approval for this issue on October 14, 2026, under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The exchange clarified that this approval does not constitute final listing approval.

Key compliance requirements include:

• Obtaining undertakings from allottees confirming no intra-day trading or sales in the scrip until the allotment date.
• Ensuring strict adherence to the Companies Act, 2013, and SEBI ICDR Regulations, 2018.
• Submitting a listing application within 20 days from the date of allotment, as per Schedule XIX of ICDR Regulations.

Deal structure details

The company must ensure that any non-compliance observed post-verification may impact the final listing of these shares. BSE reserves the right to withdraw the in-principle approval if submitted information is found incomplete, incorrect, or misleading.

Voting outcome and promoter support

The special resolution regarding the preferential issue was passed with the requisite majority. The scrutinizer's report indicates that promoters and promoter group members cast 75,07,91,171 votes, all in favour, representing 100% of their polled votes. Public non-institutional investors contributed 68,41,465 votes in favour against 50 votes against, resulting in a 99.9993% approval rate among public participants. Overall, 75,76,32,636 votes were recorded in favour out of 75,76,32,686 total votes polled.