String Metaverse Approves 2:9 Bonus Issue Exclusively for Public Shareholders

String Metaverse Limited has announced a groundbreaking corporate action following its Board of Directors' meeting held on April 29, 2026. The company has approved a unique 2:9 bonus equity shares issuance exclusively for public shareholders, with promoters and promoter group voluntarily waiving their participation rights. This strategic decision comes alongside the withdrawal of the company's Rights Issue application as it shifts focus toward achieving Minimum Public Shareholding (MPS) compliance through this innovative bonus structure.

Unique 2:9 Bonus Structure with Promoter Waiver

The Board has approved, in principle, the issuance of bonus equity shares in the ratio of 2:9, meaning two equity shares for every nine equity shares held. The distinctive feature of this proposal is the voluntary waiver by promoter and promoter group shareholders of their entitlement to participate in the bonus issue.

Parameter:	Details
Bonus Ratio:	2:9 (Two shares for every nine held)
Beneficiaries:	Public shareholders exclusively
Promoter Participation:	Voluntarily waived
Regulatory Compliance:	SEBI and BSE approvals required
MPS Target:	25% compliance support

This structure represents a rare capital distribution approach in Indian markets, where bonus issues traditionally follow pro-rata distribution to all shareholders. The proposal reflects evolving dynamics within India's capital markets, including increasing retail investor participation and enhanced alignment between companies and public investors.

Strategic Shift from Rights Issue to Bonus Shares

The Board approved the withdrawal of the application submitted to BSE Limited for obtaining in-principle approval for the proposed Rights Issue, which was earlier contemplated for achieving MPS compliance. Managing Director Ganesh Meenavalli emphasized the strategic rationale, stating: "Capital markets are evolving, and so must the way value is shared. This proposal reflects our belief that public shareholders are not just participants, but partners in the Company's journey."

The company is implementing this approach in accordance with SEBI Circular No. SEBI/HO/CFD/PoD2/P/CIR/2023/18 dated February 03, 2023, ensuring strict compliance with applicable provisions of the Companies Act, 2013, and SEBI (LODR) Regulations.

Previous OFS Success and Market Response

Prior to this strategic shift, String Metaverse Limited had completed a substantial share disposal by its promoter group through the Offer for Sale (OFS) mechanism conducted from April 21, 2026 to April 22, 2026. The OFS demonstrated exceptional investor participation across categories:

Investor Category:	Date	Subscription Rate
Non-Retail Investors:	April 21, 2026	Approximately 149.00%
Retail Investors:	April 22, 2026	Approximately 495.00%

The overwhelming 495.00% subscription from retail investors reflected sustained confidence in the company's growth prospects in the Web3.0 and digital assets space. The OFS involved the sale of 38,10,000 equity shares representing 3.27% of the total issued and paid-up equity share capital.

Regulatory Framework and Implementation Timeline

The proposed bonus issue will be implemented subject to necessary approvals from shareholders, stock exchanges, and regulatory authorities. The company confirms strict compliance with applicable regulatory frameworks, including those prescribed by SEBI and BSE Limited. Further details regarding the record date, entitlement mechanics, and completion timeline will be communicated upon receipt of requisite approvals.

String Metaverse Limited, formerly known as Bio Green Papers Limited, operates as a Web3.0 enterprise with operations across Hong Kong, UAE, Singapore, and Canada. The company maintains its equity share capital of 11,64,32,311 shares with a face value of ₹10.00 per share, focusing on blockchain, artificial intelligence, and fintech-driven digital infrastructure within the evolving Web3 ecosystem.

Source: None/Company/INE958L01026/9b5ee1b9-1958-46f9-8f83-bffed20001cf.pdf

String Metaverse Limited has informed BSE Limited about the allotment of a new International Securities Identification Number (ISIN) for its equity shares following the sub-division of shares. The company, formerly known as Bio Green Papers Limited, has subdivided its equity shares from a face value of ₹10 each to ₹1 each in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The new ISIN number INE958L01034 has been assigned to the sub-divided equity shares of String Metaverse Limited. This new identification number will become effective for all trading activities conducted on and from 24 April 2026. The announcement serves as a continuation of the company's earlier disclosures regarding the share split process.

Key Details of the Share Sub-Division

Company Name & Scrip Code	New ISIN No.	Remarks
String Metaverse Limited (534535)	INE958L01034	Sub-Division of Equity Shares from ₹10 each to ₹1 each

The BSE notice, numbered 20260420-6 and dated 20 April 2026, categorizes this corporate action under the Equity segment. The exchange has informed trading members about the new ISIN assignment, which will be operational from the ex-date of 24 April 2026. The notice reference DR-617/2026-2027 has been recorded for this corporate action.

String Metaverse Limited, with scrip code 534535, is headquartered in Hyderabad, Telangana. The company's registered office is located at Sy.No 66/2, Street No.03, 2nd floor, Rai Durgam, Prashanth Hills, Nav Khalsa, Gachi Bowli, Hyderabad. The communication was signed by M. Chowda Reddy, Company Secretary & Compliance Officer of the company.