Midwest Limited IPO Details
MAINBOARD
Midwest IPO opens for subscription on 15 Oct 2025 and closes on 17 Oct 2025. The IPO will be listed on NSE, BSE with the tentative listing date set for 24 Oct 2025.
Midwest IPO price band has been fixed at ₹1014 – ₹1065 per share.The face value is ₹5 per share with a lot size of 14.
Midwest IPO total issue size comprises 42,34,741 shares (aggregating up to ₹451.00 Cr.). This includes a fresh issue of 23,47,418 shares (aggregating up to ₹250.00 Cr.). Offer for Sale consists of 18,87,323 shares (aggregating up to ₹201.00 Cr.). Pre-issue shareholding stands at 3,38,12,415, which will increase to 3,61,59,832 post-issue.
Midwest IPO Lot Size : Retain Minimum is 1 lot (14 shares) amounting to ₹14,910. Retain Maximum is 13 lots (182 shares) amounting to ₹193,830. SHNI Minimum is 14 lots (196 shares) amounting to ₹208,740. SHNI Maximum is 67 lots (938 shares) amounting to ₹998,970. BHNI Minimum is 68 lots (952 shares) amounting to ₹1,013,880.
The Lead Managers for Midwest IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is Dam Capital Advisors Ltd, Motilal Oswal Investment Advisors Limited, Intensive Fiscal Services Private Limited. To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.
For detailed information, Refer to the Midwest Limited RHP.
Midwest IPO Details
Midwest IPO Dates
- 15 Oct 2025Opening dateOPD
- 17 Oct 2025Closing dateCOD
- 20 Oct 2025Allotment Date BOA
- 23 Oct 2025Initiation of RefundsIOR
- 23 Oct 2025Credit of SharesCOS
- 24 Oct 2025Listing dateLID
Midwest IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retain Minimum | 1 | 14 | ₹14,910 |
| Retain Maximum | 13 | 182 | ₹193,830 |
| SHNI Minimum | 14 | 196 | ₹208,740 |
| SHNI Maximum | 67 | 938 | ₹998,970 |
| BHNI Minimum | 68 | 952 | ₹1,013,880 |
Midwest IPO Reservation
Promoter Holding
Documents
Midwest IPO Valuations
Midwest Financial Information
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,082.81 | 1,058.70 | 757.12 | 656.00 |
| Total Income | 146.47 | 643.14 | 603.33 | 522.23 |
| Profit After Tax | 24.38 | 133.30 | 100.32 | 54.44 |
| EBITDA | 38.97 | 171.78 | 151.44 | 89.59 |
| NET Worth | 577.03 | 553.69 | 421.93 | 334.92 |
| Reserves and Surplus | 625.60 | 602.26 | 484.86 | 408.88 |
| Total Borrowing | 270.11 | 236.61 | 120.48 | 149.08 |
| Amount in ₹ Crore | ||||
About Midwest IPO
Midwest Limited, incorporated in 1981, is engaged in the business of exploration, mining, processing, marketing, distribution, and export of natural stones. The company is a producer and exporter of Black Galaxy Granite, a unique granite variety known for its sparkling golden flakes.
Midwest Limited operates 16 granite mines across 6 locations in Telangana and Andhra Pradesh, producing a wide range of granite varieties, including: Black Galaxy, Absolute Black and Tan Brown.
The company also has one granite processing facility in each of the states of Telangana and Andhra Pradesh, enabling large-scale processing and finishing of granite products. In addition to the operational mines, Midwest Limited has built a strong resource base comprising 25 locations across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu for future mining operations.
Global Presence and Export Market
Midwest Limited has established a strong global presence, exporting its products to 17 countries across five continents, with China, Italy, and Thailand being the primary export markets. The company's key customers include:
- MP STENEKO AB (Sweden), GI-MA STONE SRL (Italy), Quanzhou Xingguang Stone Co., Ltd. (China), The Xiamen Group (China), King Marble and Granite Co. Ltd. (Thailand) and more.
Workforce
As of June 30, 2025, Midwest Limited employed a total of 1,326 personnel, consisting of:
- 475 permanent employees
- 822 contract workers
- 29 consultants
Resource Strength and Expansion Plans
Apart from the current operational mines, Midwest Limited has identified 25 resource locations across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, ensuring long-term sustainability.
Strength Of Midwest IPO
Risk Of Midwest IPO
Objectives Midwest IPO
1. Funding capital expenditure by Midwest Neostone, the wholly owned subsidiary, towards the Phase II Quartz Processing Plant.
2. Capital expenditure for purchase of Electric Dump Trucks to be used by the Company and APGM, our Material Subsidiary
3. Capital expenditure for integration of solar energy at certain Mines of the Company
4. Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company and APGM
5. General corporate purposes.
Company Contact Details
Midwest Ltd.
8-2-684/3/25 & 26,
Road No.12,
Banjara Hills
Hyderabad, Telangana, 500034
Phone: +91 402330 5194
Email: cs@midwest.in
Website: http://www.midwest.in/