MIDWEST LIMITED
₹ 1014 - ₹ 1065
15-Oct-2025 - 17-Oct-2025
₹ 14910.00

/ 14 Shares

MIDWEST LIMITED

15-Oct-2025 - 17-Oct-2025

₹ 1014 - ₹ 1065

Price Band

₹ 14910.00

Minimum Investment

14

Bid Lot

4,235,724

Shares

  • Face Value - ₹ 5/- Per Share

  • Listing at BSE, NSE

  • 105,633 Application Required in Retail for 1 Time.

  • Registrar : KFin Technologies Limited

IPO Details

Category % Shares/Amount
QIB 510% 2,112,675 Shares RS.225.00 CR
HNI 1 5% 211,268 Shares RS.22.50 CR @ 1078 FORM 1 X
HNI 2 10% 422,535 Shares RS.45.00 CR @ 2156
Retail 35% 1,478,873 Shares RS.157.50 CR @ 105634 FORM 1X
Employee 0% 10,373 Shares RS.1.00 CR

Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
105634 FORM 1X 1078 FORM 1 X 2156

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 14 ₹ 14,910
Retail (Upto 2 Lakh) 13 182 ₹ 193,830
S-HNI (2 Lakh to 10 Lakh) 14 196 ₹ 208,740
S-HNI (2 Lakh to 10 Lakh) 67 938 ₹ 998,970
B-HNI (Above 10 Lakh) 68 952 ₹ 1,013,880

IPO Timeline

  • Open Date

    15-Oct-2025

  • Close Date

    17-Oct-2025

  • Basis of Allotment Date

    20-Oct-2025

  • Initiation of Refunds

    23-Oct-2025

  • Credit Shares to Demat A/c

    23-Oct-2025

  • IPO Listing Date

    24-Oct-2025

About Company

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.

Read More

Strengths

Company Promoters

Company Financials

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

Objects of the Issue

The Company Midwest IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

S.No. Objects of the Issue Expected Amount (in Millions)
1 Funding capital expenditure by Midwest Neostone, the wholly owned subsidiary, towards the Phase II Quartz Processing Plant. 1,270.49
2 Capital expenditure for purchase of Electric Dump Trucks to be used by the Company and APGM, our Material Subsidiary 257.55
3 Capital expenditure for integration of solar energy at certain Mines of the Company 32.56
4 Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company and APGM 538
5 General corporate purposes.

How to Apply

Apply for IPO in few simple steps.

  • Step 01 :

    Once you create your account, Login to InvestoYard.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with InvestoYard, in just a few clicks your application is processed. You can bid for any IPO through InvestoYard, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
  • You can apply at the cut off price set by the company or bid for a desired amount within the price band.
  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on InvestoYard’s IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
  • If the share aren’t allotted the blocked funds will reflect back into your account.

Frequently Asked Questions

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