Midwest IPO Price: ₹1014 to ₹1065 per share
IPO Dates: 15th October 2025 – 17th October 2025
Company Overview
Established in 1981, Midwest Limited is engaged in the exploration, mining, processing, marketing, distribution, and export of natural stones. The company is renowned for producing and exporting Black Galaxy Granite, a premium granite variety known for its sparkling golden flakes.
Operations and Product Range
Midwest Limited operates 16 granite mines across 6 locations in Telangana and Andhra Pradesh, offering a wide range of granite varieties, including:
- Black Galaxy
- Absolute Black
- Tan Brown
The company also runs two granite processing facilities—one in Telangana and one in Andhra Pradesh—enabling large-scale processing and finishing of granite products.
Additionally, Midwest has developed a resource base of 25 locations across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu for future mining expansion.
Global Presence and Export Markets
Midwest Limited exports its granite products to 17 countries across five continents, with China, Italy, and Thailand being its major export destinations.
Some of its key international clients include:
- King Marble and Granite Co. Ltd. (Thailand)
- MP STENEKO AB (Sweden)
- GI-MA STONE SRL (Italy)
- Quanzhou Xingguang Stone Co., Ltd. (China)
- The Xiamen Group (China)
Workforce Overview (as of June 30, 2025)
- Midwest Limited employs a total of 1,326 personnel, comprising:
- 475 permanent employees
- 822 contract workers
- 29 consultants
Bidding Starts In
Midwest IPO Specifics:
| IPO Date | October 15, 2025 to October 17, 2025 |
| Face Value | ₹5 per share |
| Price Band | ₹1014 to ₹1065 per share |
| Lot Size | 14 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 42,34,740 shares (aggregating up to ₹451.00 Cr) |
| Fresh Issue | 23,47,417 shares (aggregating up to ₹250.00 Cr) |
| Offer for Sale | 18,87,323 shares of ₹5 (aggregating up to ₹201.00 Cr) |
| Employee Discount | ₹101.00 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,38,12,415 shares |
| Share Holding Post Issue | 3,61,59,832 shares |
Midwest IPO Timetable (Important Dates)
| IPO Open Date | Wed, Oct 15, 2025 |
| IPO Close Date | Fri, Oct 17, 2025 |
| Tentative Allotment | Mon, Oct 20, 2025 |
| Initiation of Refunds | Thu, Oct 23, 2025 |
| Credit of Shares to Demat | Thu, Oct 23, 2025 |
| Listing Date | Fri, Oct 24, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Oct 17, 2025 |
Midwest IPO Lot Size
Bidders have the opportunity to bid for a minimum of 14 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 14 | ₹14,910 |
| Retail (Max) | 13 | 182 | ₹1,93,830 |
| S-HNI (Min) | 14 | 196 | ₹2,08,740 |
| S-HNI (Max) | 67 | 938 | ₹9,98,970 |
| B-HNI (Min) | 68 | 952 | ₹10,13,880 |
Midwest IPO Reservation
| QIB Shares Offered | Not more than 50.00% of the Net Offer |
| Retail Shares Offered | Not less than 35.00% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Offer |
Midwest IPO Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 | 30 Jun 2025 |
| Assets | 656.00 | 757.12 | 1,058.70 | 1,082.81 |
| Total Income | 522.23 | 603.33 | 643.14 | 146.47 |
| Profit After Tax | 54.44 | 100.32 | 133.30 | 24.38 |
| EBITDA | 89.59 | 151.44 | 171.78 | 38.97 |
| NET Worth | 334.92 | 421.93 | 553.69 | 577.03 |
| Reserves and Surplus | 408.88 | 484.86 | 602.26 | 625.60 |
| Total Borrowing | 149.08 | 120.48 | 236.61 | 270.11 |
Key Performance Indicator – Midwest IPO
| KPI | Values |
|---|---|
| ROE | 7.71% |
| RoNW | 7.97% |
Objects of the Issue:
The Canara HSBC Life IPO plans to utilise the net proceeds from the issue for the following purposes:
To achieve the benefits of listing the equity shares on the stock exchanges.
To carry out an Offer for Sale (OFS) of up to 237,500,000 equity shares, each having a face value of ₹10, by the selling shareholders, aggregating up to ₹[●] million.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
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