Mid East Portfolio Management , a Mumbai-based portfolio management company, has reported a reduction in stake by one of its promoters, Jyoti Kishor Shah. The transaction, which occurred on September 09, 2025, involved the sale of 40,232 equity shares, representing 0.80% of the company's total shareholding, through an open market transaction.

Transaction Details

According to the disclosure made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the following changes in shareholding were reported:

The transaction was executed through the open market on the Bombay Stock Exchange (BSE), where Mid East Portfolio Management is listed.

Company Capital Structure

Post-transaction, the company's total equity share capital remains unchanged at 50,30,000 shares of Rs.10 each, with a paid-up capital of Rs. 5,03,00,000. This structure was confirmed in the LODR filing submitted to the BSE.

Regulatory Compliance

As part of regulatory requirements, Jyoti Kishor Shah, identified as a member of the Promoter/Promoter Group, has duly informed the BSE and the company about this transaction. The disclosure includes details such as the mode of acquisition (open market sale), date of the transaction, and the resulting changes in shareholding percentages.

About the Seller

Jyoti Kishor Shah, residing at 1/203, Vishal Complex, Narsing Lane, OFF. S.V. Road, Malad (W), Mumbai, is a promoter of Mid East Portfolio Management. The LODR data provides additional contact information, including a mobile number (9322861673) and email address ( shahjyoti1411@gmail.com ).

This transaction represents a significant change in the promoter's holding and may be of interest to investors and market analysts following Mid East Portfolio Management.

Mid East Portfolio Management Limited has announced a correction to its earlier disclosure regarding an increase in authorized share capital, along with other significant corporate actions.

Correction in Authorized Share Capital

The company has updated its earlier announcement regarding the increase in authorized share capital. A clerical oversight in the previous disclosure about the existing capital structure has been corrected. The actual existing authorized share capital is ₹10.00 crore, comprising 80 lakh equity shares of ₹10 each and 2 lakh preference shares of ₹100 each. Mid East Portfolio Management now proposes to increase its authorized share capital from ₹10.00 crore to ₹27.05 crore, comprising 2.50 crore equity shares of ₹10 each and 2 lakh preference shares of ₹100 each. This error was identified by the newly constituted Committee for Preferential Issue while reviewing the proposed capital structure.

Preferential Issue of Convertible Warrants

The company's board has approved the issuance of 60 lakh convertible equity warrants to 17 non-promoter investors at ₹25.00 per warrant. This move is set to raise ₹15.00 crore through preferential allotment. The warrants, each convertible into one equity share, can be exercised within 18 months of allotment. Investors are required to pay 25% upfront, with the remaining 75% due upon conversion to equity shares.

Key Appointments and Re-appointments

Managing Director Re-appointment

The board has approved the re-appointment of Mr. Kishor A. Shah as Managing Director. Mr. Shah, who holds a 6.58% stake in the company, brings experience in managing investments and consulting services.

Independent Director Re-appointment

The board has recommended the re-appointment of Mr. Shrikant Govind Nakhe as an Independent Director for a second three-year term, from October 2025 to September 2028. Mr. Nakhe, with a background in Chemistry, contributes expertise in business consultancy and networking.

New Statutory Auditor

M/s. Motilal & Associates LLP has been appointed as the statutory auditor for one year, from the 34th to the 35th Annual General Meeting. The firm, established in 1985, brings over three decades of professional experience to the role.

Annual General Meeting

The 34th Annual General Meeting is scheduled for September 30, 2025, and will be conducted via video conferencing. The company has set the dates for closing the Register of Members and Transfer Books from September 24 to September 30, 2025.

These strategic decisions, including the capital raise through warrant issuance, the key board appointments, and the correction in the authorized share capital increase proposal, indicate Mid East Portfolio Management's focus on strengthening its financial position and governance structure.