STRING METAVERSE LIMITED (META) share price
₹7.15 on BSE as of 2026-10-07. -2.32% on the day. market cap ₹872 Cr. P/E 1.5. 52-week range ₹5.15 to ₹26.43. Information Technology.
String Metaverse Q1 FY27: Revenue Up 97% to ₹392 Cr, a ₹1,000 Crore Fundraise Proposal, and Nine Subsidiaries Across Four Countries
At a glance
String Metaverse was incorporated in 1994 and spent its early life making paper. It now sells gaming software and runs a high-frequency trading desk, which is the kind of career pivot that would raise eyebrows at a school reunion.
Revenue for the three months to June 2026 was ₹392.40 crore, against ₹198.86 crore a year earlier. That is a rise of 97.3 per cent. Operating profit was ₹43.83 crore, against ₹21.62 crore in the same three months last year. Net profit was ₹37.01 crore against ₹18.10 crore. Earnings per share, the profit attached to a single share, came in at ₹0.30 against ₹0.13.
The board meeting of 11 August 2026 that approved these results did a good deal else besides. It approved a proposal to raise up to ₹1,000 crore through equity shares, convertible securities or warrants. Depositary receipts and foreign currency convertible bonds sit on the same list of permitted routes. The meeting began at 11:30 am and finished at 12:35 pm, sixty-five minutes in total. Into that hour went a year's Board Report, an AGM notice, a scrutinizer and the fundraise. The market capitalisation carried on the sheet is ₹921 crore.
Elsewhere in the quarter, 5,55,86,661 bonus shares were allotted to public shareholders in a 2:9 ratio. Bonus shares are additional shares issued free to existing holders. They listed on 23 June 2026, and the promoters waived their participation. Consolidated revenue for the year to March 2026 was ₹1,069.11 crore, against ₹9.97 crore in the year to March 2019. Paper was the product then. Nine subsidiaries now sit under the parent, which on its own booked ₹4.05 crore of revenue in the quarter.
Introduction
The name on every filing is String Metaverse Limited (Formerly Known as Bio Green Papers Limited). The old name is carried in brackets with the diligence of a man who changed his name legally, but whose relatives still use the old one on wedding cards.
The transition is documented. In the year to March 2025 the company implemented a Resolution Plan and Scheme of Arrangement approved by the National Company Law Tribunal. That tribunal is the court that hears company matters. String Metaverse Limited was the transferor company. It merged into Bio Green Papers Limited, which was then renamed String Metaverse Limited from 28 May 2024. The company describes itself as having moved from paper manufacturing into a next-generation global digital infrastructure and technology enterprise. It says the focus is integrated Web 3.0, online gaming, blockchain and fintech solutions.
What followed was a fundraising sequence with the pacing of a series finale. A rights issue of ₹49.25 crore completed in May 2025, undertaken to meet minimum public shareholding rules. A rights issue offers new shares to a company's existing shareholders. Those shareholding rules require a listed company to keep a set portion of its shares in public hands. On 7 November 2025 the board approved a further raise of up to ₹450 crore through a placement to institutions, again for the same rule. A proposal for up to ₹900 crore came after that. On 29 April 2026 the board withdrew a proposed rights issue for the same compliance requirement. It considered bonus shares instead, in a 2:9 ratio to public shareholders only, with promoters waiving participation. Postal ballot approval came on 4 June 2026, and the record date was 19 June 2026.
Management changed alongside. Mr Sai Santosh Althuru resigned as Chief Executive Officer, and Mr Raghavendra Hunasgi replaced him on 8 September 2025. Mr Meenavalli Krishna Mohan resigned as Chief Financial Officer, and Mr Hemant Prabhudas Vastani replaced him on 1 October 2025. On 2 June 2026 the board noted the resignations of Chairman Ghanshyam Dass and Independent Director Arvind Jadhav. It appointed Dr Sethurathnam Ravi as Chairman from the same date. Revenue was ₹151.21 crore in the year to March 2024 and ₹407.36 crore the year after. It reached ₹1,069.11 crore in the year to March 2026.
Business model
The company reports three verticals. Web3 Infrastructure and Validator Operations covers deploying and managing decentralised validator node networks across blockchain protocols. Validator nodes are computers that confirm transactions on a blockchain network. Digital Asset Management and FinTech covers regulated financial infrastructure through licensed entities in jurisdictions including Canada and the UAE. Immersive Technologies and Game-Fi covers interoperable gaming ecosystems with blockchain-based economies and NFT-integrated gameplay. An NFT is a digital token that records ownership of an item.
In that whole description, only a handful of words turn up in ordinary speech, and one of them is "and".
The segment disclosure is more concrete. Gaming and IT services brought in ₹390.91 crore of revenue for the quarter, and high-frequency trading brought in ₹1.49 crore. High-frequency trading means buying and selling securities in fractions of a second, by computer. Gaming and IT services returned a segment result of ₹48.63 crore, while the trading desk returned a loss of ₹4.80 crore. The desk therefore lost roughly three times what it earned over the same three months, a rate of conversion that in most industries would attract a documentary crew.
The corporate structure is where the map gets busy. The wholly owned subsidiaries are Torus Kling Fintech, String Forex, String Fintech HK and String Digi Tech in Singapore. Two more sit alongside them, String Haven Realty LLP and String Realty Vault LLP. Kling Digital Assets FZCO sits in Dubai, with two step-down subsidiaries under it. Those two are String Digital Assets and String DePIN and AI, both also in Dubai. The naming convention appears to be "String" plus whichever technology was trending that financial year.
The auditor spells out the split. Four subsidiaries incorporated in India show no revenue at all, and a net loss after tax of ₹0.20 crore for the quarter. Five foreign subsidiaries show revenue of ₹392.40 crore and net profit after tax of ₹35.93 crore. On a standalone basis, the listed parent booked ₹4.05 crore of revenue and ₹0.20 crore of profit for the same quarter.
Screener-extracted operating metrics for the year to March 2026 list five million total ecosystem users and 300,000 monthly active users. The same metrics list derivatives trading volume on a centralised exchange of USD 4 billion, and tokenised asset volume of USD 220 million. Total ecosystem users in the year to March 2024 were 950,000.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for STRING METAVERSE LIMITED.
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