Update on earlier Announcement dated 07.06.2025 in compliance of Advisory of Stock Exchange.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mid East Portfolio Management has resubmitted its June 7, 2025 Board Meeting outcome to BSE after removing PAN details of proposed allottees, as advised by the Exchange. The underlying decisions remain unchanged: authorized share capital is being raised from Rs. 10 crore to Rs. 27.05 crore (with equity share count rising from 80 lakh to 2.50 crore shares of Rs. 10 each). The Board also approved a preferential issue of up to 2 crore convertible equity warrants at Rs. 24 per warrant to 37 non-promoter public-category allottees, potentially raising up to Rs. 48 crore. Allottees must pay 25% upfront and the remaining 75% on conversion, which can happen in tranches within 18 months. A practicing company secretary was also appointed as scrutinizer for the postal ballot seeking shareholder approval.
This filing itself is purely procedural — no change in the substance of the raise — but it confirms a planned Rs. 48 crore fundraise via warrants and a large expansion in authorized capital, which would meaningfully dilute existing shareholders if all warrants are converted (the top allottee, Sellwin Traders Ltd, would hold around 7.87% post-issue).