In supersede the earlier communication with respect to Increase in Authorised Capital- Update on Authorised Capital
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Mid East Portfolio Management has issued a correction to its earlier announcement made on 07 June 2025 regarding an increase in authorized share capital. The earlier disclosure had a clerical error in describing the existing capital structure. The actual existing authorized capital is Rs 10 crore, made up of 80 lakh equity shares of Rs 10 each and 2 lakh preference shares of Rs 100 each. The revised proposal is to raise authorized capital to Rs 27.05 crore, comprising 2.50 crore equity shares of Rs 10 each and 2 lakh preference shares of Rs 100 each, along with a corresponding amendment to the Capital Clause of the Memorandum of Association. The move is being reviewed by the newly constituted Committee for Preferential Issue, suggesting a potential preferential allotment may follow.
This is a procedural correction with no immediate financial impact on shareholders, though the enlarged authorized capital creates room for a future preferential issue, which could lead to dilution for existing equity holders.