String Metaverse Ltd held its 32nd Annual General Meeting on September 25, 2026, via video conferencing. The meeting focused on adopting FY26 financials and approving significant capital actions including fund raising and asset disposals.

Key Agenda Items and Resolutions

The Board placed eight items of business before the members, comprising two ordinary resolutions and six special resolutions. The agenda included the adoption of audited financial statements for the financial year ended March 31, 2026, and the re-appointment of Mr. Meenavalli Krishna Mohan as a director.

Significant special business sought member approval for:

• Raising funds through one or more permissible modes.
• Borrowing monies in excess of limits and creating security on company assets under Sections 180(1)(C) and 180(1)(a) of the Companies Act, 2013.
• Providing loans, guarantees, or securities to persons in whom directors are interested under Section 185(2).
• Making investments, loans, guarantees, and providing securities under Section 186.
• Sale, lease, transfer, or other disposal of undertakings, assets, investments, or shareholding in subsidiary companies.
• Approval of material related party transactions.

Meeting Proceedings and Voting

The meeting commenced at 11:30 am and concluded at 12:05 pm. Dr. Sethurathnam Ravi, Chairman of the Company, presided over the session. A total of 79 members participated in the meeting. The requisite quorum was present as per Section 103 of the Companies Act, 2013.

Remote e-voting was conducted through Central Depository Services (India) Limited (CDSL). The voting period ran from September 20, 2026, to September 24, 2026. M/s. Balarama Krishna & Associates served as the Scrutinizer for the voting process. The Consolidated Scrutinizer’s Report and final voting results are to be submitted separately to the stock exchanges in accordance with SEBI Listing Regulations.

Directors and Attendees Present

The following directors and key managerial personnel attended the meeting:

Regulatory Compliance and Disclosures

The AGM was conducted in compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory registers and documents referred to in the notice were made available for inspection by members during the meeting. The company’s statutory auditors, Gorantla & Co, Chartered Accountants, were also present.

The Board’s Report, Statutory Auditors’ Reports, and Secretarial Audit Report for FY26 were circulated to members prior to the meeting and taken as read during the proceedings. No specific financial metrics such as revenue or profit figures were disclosed in the outcome summary provided.

String Metaverse has released the formal notice for its Extra-Ordinary General Meeting (EGM) scheduled for October 15, 2026, seeking shareholder approval for a ₹73.63 crore preferential issue of equity shares.

The Board of Directors approved the proposal during its meeting held on September 17, 2026. The allotment involves issuing 8,32,03,383 fully paid-up equity shares of face value ₹1 each to 21 identified investors through private placement. The securities premium is set at ₹7.85 per share. The relevant date for price determination was fixed as September 15, 2026.

Fund Utilization Plan

The company disclosed a detailed breakdown of how the proceeds will be deployed. A significant portion, ₹30.00 crore, is allocated towards working capital and business expansion, including technology initiatives in Artificial Intelligence and AI Agent Swarms. Another ₹12.00 crore is earmarked for strategic investments in emerging technologies such as Web 3.0, fintech, and data centers.

The funds will also support pre-operative expenditure for proposed projects, including a 100 MW solar-wind power project and a 10 MW data center project. Additionally, ₹10.00 crore is designated for investments in overseas subsidiaries to support international operations.

Allotment Details and Pricing

The issue price of ₹8.85 per share was determined based on the higher of the 90-day VWAP (₹7.40) or the 10-day VWAP (₹8.84) preceding the relevant date, ensuring compliance with SEBI ICDR Regulations. The transaction is subject to shareholder approval and requisite regulatory consents from BSE Limited.

Investor Participation

The proposed allottees include a mix of corporate entities and individual investors. Altius Global Finance Private Limited is the largest single allottee, receiving 54,237,288 shares. Other significant participants include Hello Money Advisors LLP and Kamal Jagdish Gupta.

Voting Schedule and Compliance

The company has fixed October 8, 2026 as the cut-off date for determining voting eligibility. Remote e-voting will commence on October 10, 2026, at 9:00 am and conclude on October 14, 2026, at 5:00 pm. The EGM will be held via video conferencing on October 15, 2026, at 11:30 am.

M/s. Balaramakrishna & Associates has been appointed as the scrutinizer for the remote e-voting process. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. M. Chowda Reddy, Company Secretary & Compliance Officer, signed the notice.