Mid East Portfolio Management has entered into a Memorandum of Understanding (MoU) with Cher Lifestyle to explore a proposed strategic association for business expansion and funding. Under the MoU, the parties intend to evaluate a proposed funding arrangement of up to Rs 5 crore for establishing three additional branches of Cher Lifestyle in different cities. The proposed arrangement may involve equity investment, debt funding, convertible instruments or a combination thereof, subject to due diligence, financial feasibility, requisite corporate and regulatory approvals, and execution of definitive agreements.
The MoU also provides for consideration of strategic guidance, business development support and possible board representation, subject to mutual agreement and applicable laws.
Mideast Portfolio Management is primarily engaged in providing investment services to NRIs for New Issues (IPOs), Demat Services, Stock Broking and other services.
