Spacenet Enterprises to sell up to 3.27% stake in String Metaverse Limited via OFS
Spacenet Enterprises India Limited will sell up to 3.27% stake in String Metaverse Limited via an Offer for Sale. The OFS involves 38,10,000 equity shares with a face value of ₹10 each. The sale will occur on April 21-22, 2026, with a floor price of ₹66 per share.
The sale of a 3.27% stake in a subsidiary through an OFS is a significant corporate action that could affect the ownership structure and potentially unlock value. However, the direct impact on Spacenet Enterprises' core operations is limited.
The announcement is a routine corporate action to comply with SEBI regulations regarding minimum public shareholding. It does not inherently indicate positive or negative performance of the company.
Spacenet Enterprises India Limited has announced an Offer for Sale (OFS) of up to 38,10,000 equity shares of String Metaverse Limited. These shares represent 3.27% of String Metaverse Limited's total paid-up equity share capital. The face value of each equity share is ₹10. The OFS will be conducted through the stock exchange mechanism on April 21, 2026 (T day) for non-retail investors and on April 22, 2026 (T+1 day) for retail investors. Spacenet Enterprises India Limited, along with other promoter group members Yaralagadda Venkat Subba Rao, Lanka Divyabharathi, and Pendurthi Annapurna, are the sellers. The floor price for the offer is set at ₹66 per equity share. This offer is being undertaken to achieve the minimum public shareholding requirements in String Metaverse Limited as prescribed by SEBI regulations.
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Spacenet Enterprises India Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Spacenet Enterprises India Limited. Read the original for the full detail.