String Metaverse Ltd (BSE: 534535)

India PR Distribution

Mumbai (Maharashtra) [India], April 28: String Metaverse Ltd, a prominent Web 3.0 technology firm listed on the Bombay Stock Exchange (BSE Symbol: BGPL, Code: 534535), is delighted to announce the successful completion of its Rights Issue, which saw overwhelming oversubscription from public investors.

This Rights Issue was exclusively available to public shareholders to help the company meet the Minimum Public Shareholding (MPS) requirement. With the successful conclusion of the issue, the public shareholding in the company will rise to 19%.

Under the Rights Issue, a total of 94,71,445 shares were made available, with applications exceeding Rs1.79 crore shares, reflecting strong investor confidence and backing. The company successfully generated Rs49.25 crore from the issue, and the Rights Issue was oversubscribed up to Rs100 crore, demonstrating robust demand from public shareholders.

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

Consequently, the company has submitted a request to the BSE for updating its name in the stock exchange records.

String Metaverse Ltd is dedicated to creating long-term value for its shareholders and leading innovation in the Web 3.0 sector.

For media inquiries, please contact:

Name: M. Chowda Reddy

Designation: Company Secretary & Compliance Officer

Email: cs@stringmetaverse.com

Phone: +91-40-29390760

Website: https://bsmedia.business-standard.comwww.stringmetaverse.com/

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