Midwest IPO Details
The Midwest IPO is a book build issue with a total issue size of ₹451 cr, comprising of fresh issue of 2347417 equity shares., and a offer for sale of 1887323 equity shares. Midwest IPO opened for subscription on Oct 15, 2025 and closed on Oct 17, 2025. Midwest IPO is set price band at ₹1014 to ₹1065 per share, with a lot size of 14 shares. Minimum investment for Retail investors was ₹14,910.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Oct 20, 2025, and listed on both the NSE and BSE on Oct 24, 2025.
Kfin Technologies Limited has been appointed as the registrar. Intensive Fiscal Services Private Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) and Motilal Oswal Investment Advisors Pvt Ltd are the Book Running Lead Manager for the issue.
Before investing in the Midwest IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 1014 – 1065
- Lot Size
- 14
- Issue Size
- ₹451 Cr
- Minimum Investment
- ₹14910 (14 Shares)
- Listing Date
- 24 October 2025
Current GMP
₹100 (+9.39%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
About Midwest Limited
Midwest Limited
Company Overview
Incorporated in 1981, Midwest Limited is engaged in the exploration, mining, processing, marketing, distribution, and export of natural stones. The company is one of India’s leading producers and exporters of Black Galaxy Granite, a distinctive variety renowned for its elegant appearance and sparkling golden specks.
Operations and Product Portfolio
Midwest Limited operates 16 granite mines across six locations in Telangana and Andhra Pradesh, producing a wide range of premium granite varieties including Black Galaxy, Absolute Black, and Tan Brown.
The company also operates two state-of-the-art granite processing facilities — one each in Telangana and Andhra Pradesh — equipped for large-scale cutting, polishing, and finishing of granite products.
In addition to its operational mines, Midwest Limited has built a robust resource base of 25 prospective mining locations spread across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, ensuring long-term resource sustainability and future expansion opportunities.
Global Presence and Export Market
Midwest Limited has established a strong international footprint, exporting its products to 17 countries across five continents. The primary export destinations include China, Italy, and Thailand, catering to some of the world’s leading natural stone importers and distributors.
The company’s key global clients 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)
Workforce
As of June 30, 2025, Midwest Limited employed a total of 1,326 personnel, comprising:
- 475 permanent employees
- 822 contract workers
- 29 consultants
Resource Strength and Expansion Plans
With 16 operational mines and a pipeline of 25 identified resource locations across southern India, Midwest Limited is strategically positioned for continued growth. The company’s expansion plans are focused on developing these prospective sites to enhance production capacity, diversify its granite portfolio, and strengthen its leadership position in the global natural stone industry.
Midwest IPO Promoters
- Mr. Kollareddy Rama Raghava Reddy
- Mr. Kollareddy Ramachandra
- Mrs. Kukreti Soumya
- Mrs. Uma Priyadarshini Kollareddy
Promoters Holding
Holding Pre Issue
95.83%
Holding Post Issue
84.39%
Midwest IPO Objective
The Company Midwest IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding capital expenditure by Midwest Neostone Private Limited (“Midwest Neostone”), our wholly owned subsidiary, towards phase-II of the quartz grit and powder processing plant (the “Phase-II Quartz Processing Plant”)
- Capital expenditure for purchase of electric dump trucks (“Electric Dump Trucks”) to be used by our Company and APGM, our Material Subsidiary
- Capital expenditure for integration of solar energy at certain Mines of our Company
- Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company and APGM
- General corporate purposes
Address / Contact Info
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/
IPO Snapshot
Book Running Lead Managers
- Intensive Fiscal Services Private Limited
- Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
- Motilal Oswal Investment Advisors Pvt Ltd
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Midwest IPO is a Book-building IPO with a total issue size of ₹451 crore. The Midwest IPO price band is ₹1014 to 1065 per share. The Midwest IPO subscription opens on Wed, Oct 15, 2025, and closes on Fri, Oct 17, 2025. The Midwest IPO will be listed on the BSE,NSE. Kfin Technologies Limited is the registrar for the Midwest IPO.
The Midwest IPO opens on Wed, Oct 15, 2025 and closes on Fri, Oct 17, 2025
Midwest IPO Price Band is ₹1014 to 1065 per share.
Midwest IPO lot size is 14 shares, Retail investors need a minimum investment of ₹14910 based on the upper price band
The minimum investment for Midwest IPO is ₹14910, based on one lot of 14 shares at the upper price band of ₹1065 per share.
Investors can apply for the Midwest IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Oct 17, 2025. The application amount remains blocked until the Midwest IPO allotment is finalized.
Midwest IPO issue size is ₹451 crores.
Midwest IPO allotment date is Wed, Jul 1, 2026.
The registrar for Midwest IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website to check Midwest IPO allotment status, refund processing, and other IPO-related information.
The Midwest IPO GMP (Grey Market Premium) is ₹100 as of Fri, Oct 24, 2025. Based on the upper price band of ₹1065 per share, the estimated Midwest IPO listing price is ₹1165, indicating a potential listing gain of approximately 0% over the issue price.