Mid East Portfolio Management Limited (BSE:526251) announced a private placement of 2,030,000 equity shares at a price of INR 10 per share for gross proceeds of INR 20,300,000 on March 17, 2020. The company will issue shares on a preferential basis. The transaction will involve participation from Jyoti K Shah for 475,000 shares, Mideast Healthcare Pvt Ltd for 241,003 shares, Mideast Windfarms Pvt Ltd for 240,000 shares and other 8 investors. The transaction has been approved by the board of directors of the company, and is still subject to the shareholders approval in its extra-ordinary general meeting to be held on April 17, 2020.