On May 16, 2025, String Metaverse Limited (formerly known as Bio Green Papers Limited) informed BSE Limited that the company’s Board of Directors had approved a proposal for a Rights Issue of equity shares during its meeting held on May 15, 2025.

In continuation of that board decision, the Rights Issue Committee of the company convened on May 16, 2025, and has approved the Draft Letter of Offer (DLOF) pertaining to the Rights Issue. This critical document outlines the structure, terms, and conditions under which the Rights Issue will be executed. The DLOF will be submitted to the stock exchange in accordance with regulatory requirements.

This disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as part of mandatory compliance related to corporate announcements that materially affect shareholders and investors.

Key Highlights:

• Company Name: String Metaverse Limited (Formerly Bio Green Papers Limited)

• Stock Symbol on BSE: META | Scrip Code: 534535

• Event: Approval of Draft Letter of Offer (DLOF) for upcoming Rights Issue

• Board Approval Date: May 15, 2025

• Rights Issue Committee Meeting Date: May 16, 2025

• Purpose of Filing: To disclose Rights Issue plans and DLOF approval under SEBI Listing Regulations

About the Rights Issue

The Rights Issue is a method by which a listed company offers new shares to existing shareholders in proportion to their current holdings. The purpose could be to raise funds for growth, expansion, or operational purposes. The details of share entitlement, issue price, record date, and offer period will be included in the DLOF submitted to the exchange.

At this point, String Metaverse Limited has not disclosed the specific terms of the Rights Issue, such as price, ratio, or size. These will become available upon regulatory review and subsequent announcements.

About the Company

String Metaverse Limited, headquartered in Hyderabad, Telangana, was earlier known as Bio Green Papers Limited. The company operates under the CIN: L62099TG1994PLC017207 and is actively involved in metaverse, technology-based platforms, or other digital ventures aligned with its new identity.

The Current active IPO are Accretion Pharmaceuticals.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst