String Metaverse Ltd (BSE: 534535 | Symbol: BGPL) Rights Issue Overwhelmingly Oversubscribed, Raises Rs49.25 Crore

The Rights Issue was offered exclusively to public shareholders to assist the company in achieving the Minimum Public Shareholding (MPS) requirement. Following the successful completion of the issue, the public shareholding in the company will increase to 19{706b6fac5750e64cd319c98f9763b3e673751851de4f41f5c2233c2e0525507f}.

A total of 94,71,445 shares were offered under the Rights Issue, with applications received for more than Rs1.79 crore shares, showcasing strong investor confidence and support. The company successfully raised Rs49.25 crore through the issue. Rights Issue was oversubscribed up to Rs100 crore, highlighting the robust demand from the public shareholders.

In a significant development, the company has also received approval from the Ministry of Corporate Affairs for its name change from Bio green Papers Ltd to String Metaverse Ltd.

Subsequently, the company has applied to the BSE for updating its name in the stock exchange records.

String Metaverse Ltd remains committed to creating long-term value for its shareholders and spearheading innovation in the Web 3.0 space.

For media queries, please contact:

Name : M.Chowda Reddy

Designation : Company Secretary & Compliance Officer

Email: [email protected]

Phone: +91-40-29390760

Website: http://www.stringmetaverse.com/