Mideast Portfolio Management to Acquire 55% Stake in Mannibhadra Finnstock, Establishing Parent-Subsidiary Relationship

Mideast Portfolio Management Limited and Mannibhadra Finnstock Private Limited are set to form a Parent and subsidiary relationship based on the proposed purchase of equity share capital from the existing shareholders of Mannibhadra. The Memorandum of Understanding (MOU) outlines the mutual understanding of the parties, with Mideast set to acquire a 55% equity stake in Mannibhadra. The companies will work together for mutual business development, client servicing, and expansion of financial services. The transaction is subject to satisfactory due diligence, compliance with applicable laws, and the execution of definitive agreements.