String Metaverse Limited (BSE: META), India's pioneering Web3 infrastructure and gaming company, has announced financial results for Q2 and unveiled ambitious fund-raising plans to fuel its growth trajectory.

Strong Financial Performance

The company reported a 165.41% year-on-year increase in consolidated revenue, reaching ₹23,249.83 crore for Q2, compared to ₹8,780.74 crore in the same quarter last year. This growth was primarily driven by the company's gaming and high-frequency trading (HFT) segments.

String Metaverse's profitability also saw significant improvement:

The company's EBITDA margin expanded from 2.48% to 7.50%, reflecting improved operational efficiency.

Segment-wise Performance

String Metaverse operates in two main segments:

1. Gaming: Generated revenue of ₹20,421.01 crore in Q2
2. HFT (High-Frequency Trading): Contributed ₹2,828.82 crore to the quarter's revenue

The gaming segment showed strong growth, with the user base expanding from 4 million to 4.7 million, marking a 17.5% quarter-on-quarter increase.

Strategic Initiatives and Ecosystem Expansion

The company reported several key developments during the quarter:

1. Integration of the $IDLE Token across all String platforms, processing over 1 million on-chain transactions in Q2.
2. Deployment of validation nodes on the Solana blockchain, facilitating over $80 million in DeFi transaction volume.
3. Establishment of colocation servers at strategic locations to enhance transaction execution speed for high-frequency trading strategies.

Fund-Raising Plans

String Metaverse's Board of Directors has approved multiple fund-raising initiatives totaling up to ₹1,410 crores:

1. Rights Issue: Up to ₹60 crores
2. Qualified Institutional Placement (QIP): Up to ₹450 crores
3. Additional fund-raising: Up to ₹900 crores through various securities offerings

These initiatives aim to meet Minimum Public Shareholding (MPS) requirements and support the company's growth plans.

Employee Stock Option Scheme

The Board has approved the "String Metaverse Employee Stock Option Scheme – 2025 (SM ESOP 2025) – Series II", covering 50 lakh equity shares.

Management Commentary

Ganesh Meenavalli, Managing Director of String Metaverse Ltd, commented on the results: "Q2 marks the strongest quarter in our company's history. Our integrated ecosystem — spanning gaming, DeFi, and high-performance computing — continues to scale exponentially. The combination of community engagement, token integration, and infrastructure depth positions String Metaverse as the operating system of the Internet Financial System."

Outlook

With its financial performance, strategic initiatives in Web3 infrastructure and gaming, and fund-raising plans, String Metaverse appears positioned for continued growth in the digital asset and blockchain technology landscape.

Investors and stakeholders will be watching how the company leverages its fund-raising proceeds to further expand its ecosystem and maintain its growth momentum in the coming quarters.

String Metaverse Limited , formerly known as Bio Green Papers Limited, has made significant corporate governance changes and announced an upcoming board meeting with a revised agenda. These developments signal important shifts in the company's oversight and strategic direction.

Audit Committee Reconstitution

The company has reconstituted its Audit Committee through a circular resolution passed on November 3, 2025. The new four-member structure of the committee is as follows:

This reconstitution, effective immediately, aims to strengthen the company's financial oversight and corporate governance practices.

Revised Board Meeting Agenda

String Metaverse Limited has also announced a revision to the agenda of its upcoming board meeting scheduled for November 7, 2025. The key items on the revised agenda include:

1. Review and approval of standalone and consolidated un-audited financial results for the quarter ended September 30, 2025.
2. Consideration of standalone and consolidated audited financial results for the half-year ended September 30, 2025.
3. Discussion on a proposal to raise funds through a Rights Issue of equity shares, aimed at meeting Minimum Public Shareholding (MPS) norms.
4. Approval of the "String Metaverse Employee Stock Option Scheme 2025 (Series II)".
5. Review of draft Notice of Postal Ballot for seeking shareholders' approval on relevant agenda items.

Trading Window Closure

In compliance with insider trading regulations, the company has closed the trading window for designated persons, their immediate relatives, and other connected persons from October 1, 2025. The window will remain closed until 48 hours after the declaration of the financial results.

These corporate actions reflect String Metaverse Limited's commitment to maintaining robust governance structures and transparency in its operations. The upcoming board meeting suggests that the company may be preparing for significant financial disclosures and potential strategic moves, including fundraising through a Rights Issue and implementation of an employee stock option scheme.

Investors and stakeholders will be keenly watching the outcomes of the November 7 board meeting, which could provide important insights into the company's financial health and future direction.