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

1,887,323

Shares

  • Face Value - ₹ 5/- Per Share

  • Listing at BSE, NSE

  • 47,183 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

Subscription as on
17-Oct-2025 17:39

Category Book Size Subscription No. of Times
QIB 377,465 ₹ 40.20 Cr. 124,148,388 ₹ 13221.80 Cr. 328.90x
HNI (<10 LAKH) 211,268 ₹ 22.50 Cr. 26,649,966 ₹ 2838.22 Cr. 126.14x
HNI2 (>10 LAKH) 422,535 ₹ 45.00 Cr. 85,234,128 ₹ 9077.43 Cr. 201.72x
RETAIL 660,564 ₹ 70.35 Cr. 37,683,002 ₹ 4013.24 Cr. 57.05x
Total 1,671,832 273,715,484 163.72x
Category Book Size Subscription No. of Times
QIB 377,465 ₹ 40.20 Cr. 124,148,388 ₹ 13221.80 Cr. 328.90x
HNI (<10 LAKH) 211,268 ₹ 22.50 Cr. 26,649,966 ₹ 2838.22 Cr. 126.14x
HNI2 (>10 LAKH) 422,535 ₹ 45.00 Cr. 85,234,128 ₹ 9077.43 Cr. 201.72x
RETAIL 660,564 ₹ 70.35 Cr. 37,683,002 ₹ 4013.24 Cr. 57.05x
Total 1,671,832 273,715,484 163.72x

*Excluding Anchor

Total No. of Application Approx : ~2146047 (45.48 Appwise)

Appwise Subscription
Category Total App App wise
HNIBT 129974.27 1078 (For 1x) 120.57x
HNIAT 87315.14 2156 (For 1x) 40.50x
RETAIL 2144866.00 105634 (For 1x) 20.30x

Disclaimer: The above-mentioned information / data are sourced from the websites of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and are subject to change on real time basis. For updated information / data you can visit their respective website. The information / data provided herein above are for information purpose only and provided "AS IS" and "AS AVAILABLE" basis and without warranty, express or implied. We do not guarantee or warrant the accuracy, adequacy or completeness of the information received through the said websites. “We” hold not responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. “We” including its affiliates and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of information / data received through the said websites. The recipient alone shall be fully responsible / are liable for any decision taken on the basis of such information / data. All recipients should before acting upon the said information make their own investigation, seek appropriate professional advice.

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

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    Once you create your account, Login to Us.

  • 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.

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  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
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