Midwest Limited
Mainboard₹14,910 / 14 Shares
IPO Live Subscription Details (times)
IPO Details
Midwest Limited IPO is priced between ₹1014-1065 per equity share, with a face value of ₹5 per share. The company's equity shares will be listed on the Mainboard, and Kfin Technologies Ltd. is managing the issue as the registrar.
The IPO bidding period opened on 15 Oct, 2025, and closed on 17 Oct, 2025. The allotment results will be announced on 20 Oct, 2025, with a tentative listing date set for 24 Oct, 2025.
The total issue comprises 42,34,740 shares, amounting to ₹451 crore.
Midwest Limited IPO Highlights
| IPO Date | Listing Date | Face Value | Price Band | Lot Size | Fresh Issue | Offer for Sale | Listing At |
|---|---|---|---|---|---|---|---|
| Oct 15, 2025 - Oct 17, 2025 | 24 Oct, 2025 | ₹5 Per Equity Share | ₹1014-1065 per equity share | 14 Shares | Shares | - | BSE, NSE |
Midwest Limited IPO Timeline
Issue Price
₹1014-1065 per equity shareFace Value
₹5 Per Equity ShareListing at Group
BSE, NSERegistrar
Kfin Technologies Ltd.Market Lot
Retail: 14 Shares (₹14,910/-)Retail: 182 Shares (₹1,93,830/-)S-HNI: 196 Shares (₹2,08,740/-)
S-HNI: 938 Shares (₹9,98,970/-)
B-HNI: 952 Shares (₹10,13,880/-)
Lead Manager
Dam Capital Advisors LtdIntensive Fiscal Services Pvt.LtdMotilal Oswal Investment Advisors LtdIssue Size
42,34,740 shares(aggregating up to ₹451 crore)Retail Portion
Subscription
IPO Docs
No IPO Docs availableMidwest Limited IPO Valuations
EPS PRE IPO ₹39.42/- | EPS POST IPO ₹26.97/- | PE PRE IPO 27.01 | PE POST IPO 39.49 | ROE 19.42% |
ROCE 18.84% | DEBT EQUITY 0.43 | RONW 22.11% | PAT MARGIN 17.17% | PRICE TO BOOK VALUE 6.50 |
About Company
Midwest Limited, a company which was established in 1981, is involved in exploration, mining, processing, marketing, distribution, and export of natural stones. The company is a producer and exporter of the unusual granite variety known as Black Galaxy Granite for its shining golden flakes.
Midwest Limited has 16 granite quarries spread over 6 Telangana and Andhra Pradesh locations that yield a variety of granites, such as:
Black Galaxy, Absolute Black and Tan Brown.
The firm also operates a single granite processing unit in both the Telangana and Andhra Pradesh states, which allows for large-scale granite product processing and finishing. Apart from the operating mines, Midwest Limited has established a robust resource base of 25 places in Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu for future operations of mining.
Midwest Limited IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 8,44,579 | 6,33,655 4,22,437 2,11,218 | 14,78,529 | 29,67,136 |
| Day 115-10-25 05:00 PM | 0.52 x | 4.43 4.22 x 4.85 x | 1.74 x | 1.97 x |
| Day 216-10-25 05:00 PM | 1.93 x | 35.11 35.65 x 33.73 x | 8.76 x | 12.42 x |
| Day 317-10-25 05:00 PM | 146.99 x | 176.57 201.77 x 126.17 x | 25.49 x | 92.34 x |
Retail:19.98x
BHNI:40.51x
SHNI:120.56x
Midwest Limited IPO - Issue Objectives
- Funding capital expenditure by Midwest Neostone, the wholly owned subsidiary, towards the Phase II Quartz Processing Plant.
- Capital expenditure for purchase of Electric Dump Trucks to be used by the Company and APGM, our Material Subsidiary
- Capital expenditure for integration of solar energy at certain Mines of the Company
- Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company and APGM
- General corporate purposes.
Midwest Limited
8-2-684/3/25 & 26, Road No.12, Banjara Hills, Hyderabad, Telangana, 500034Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: midwest.ipo@kfintech.com