String Metaverse Ltd., an IT consulting and software company previously known as Bio Green Papers Ltd., is preparing for a significant stock split. The company has secured shareholder approval for the corporate action, which is scheduled to take place next week.
Record Date and Split Ratio Confirmed
The company has officially set April 24, 2026, as the record date for the upcoming stock split. Shareholders had previously approved this move through a postal ballot conducted on March 22, 2026. The split will be executed in a 1:10 ratio, meaning for every one equity share held, shareholders will receive ten new shares.
Impact on Face Value and Shareholder Holdings
Under the terms of the split, each existing equity share, which currently has a face value of Rs 10, will be subdivided into ten new equity shares, each with a face value of Re 1. While the number of shares held by investors will increase proportionally, the overall value of their holdings is expected to remain unchanged immediately after the split, as the share price will adjust in line with the 1:10 ratio.
Recent Stock Performance and Other Developments
Shares of String Metaverse were trading 5 percent lower at Rs 92.85 recently. The stock has experienced a significant decline, cracking 63.48 percent over the last six months. In a separate development last month, the company informed exchanges about violations of its Code of Conduct under SEBI's Insider Trading Regulations. Two designated persons were found to have executed contra trades within a six-month period from their initial trade, which constitutes a violation of the company's insider trading policy. String Metaverse stated it has taken necessary actions in accordance with its code and regulatory requirements.