Midwest IPO Details
| Detail | Description |
|---|---|
| IPO Date | October 15, 2025 to October 17, 2025 |
| Listing Date | [.] |
| Face Value | ₹ 5 per share |
| Issue Price Band | ₹ 1,014 to ₹ 1,065 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(Ex Market Maker) | 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) |
| Net Offered to Public | ₹ 101.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,38,12,415 shares |
| Share Holding Post Issue | 3,61,59,832 shares |
About Midwest IPO
Midwest IPO is a book-built issue of INR 451 crore. The issue is a combination of a fresh issue of 0.23 crore shares and an offer for sale of 0.19 crore shares. The price band is set at INR 1040 to INR 1065 per share, and the lot size for an application is 14 shares. The minimum investment required by an individual investor is INR 14,910 (14 shares). The IPO opens for subscription on October 15, 2025, and closes on October 17, 2025. Midwest IPO will list on BSE and NSE with a tentative listing date of October 24, 2025.
Company Background
Midwest Limited, established in 1981, specializes in exploration, mining, processing, marketing, and exporting natural stones, with a primary focus on Black Galaxy Granite. Operating 16 granite mines across Telangana and Andhra Pradesh, it produces varieties such as Black Galaxy, Absolute Black, and Tan Brown. The company runs processing facilities in both states and has identified 25 additional resource locations across southern India for future operations. It exports to 17 countries, including China, Italy, and Thailand, and employs 1,326 personnel, comprising permanent employees, contract workers, and consultants, ensuring a strong workforce to support its global presence and expansion plans.
Conclusion
The Midwest IPO offers investors a stake in a growing company with a strong resource base and global reach. With over four decades of experience, Midwest stands as one of India’s leading natural stone companies. Its advanced technology adoption, robust distribution network, and consistent growth and profitability position it as a reliable and promising investment in the natural resources sector.
Midwest IPO Financial Information
Latest Revenue
146.47
₹ Crore
Profit After Tax
24.38
₹ Crore
Net Worth
577.03
₹ Crore
Total Borrowing
270.11
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2025 | 1,082.81 | 146.47 | 24.38 | 577.03 | 270.11 | ||||
| 31 Mar 2025 | 1,058.70 | 643.14 | 133.30 | 553.69 | 236.61 | ||||
| 31 Mar 2024 | 757.12 | 603.33 | 100.32 | 421.93 | 120.48 | ||||
| 31 Mar 2023 | 656.00 | 522.23 | 54.44 | 334.92 | 149.08 | ||||
| Amount in ₹ Crore | |||||||||
Midwest Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 19.42% |
| ROCE | 18.84% |
| Debt/Equity | 0.43 |
| RoNW | 22.11% |
| PAT Margin | 17.17% |
| EBITDA Margin | 27.43% |
| Price to Book Value | 6.50 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 39.42 | 26.97 |
| P/E (x) | 27.01 | 39.49 |
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Competitive Strengths
Diversified product portfolio and worldwide reach with a 25-strong resource base in India.
Producer and exporter of a unique granite variety known for its sparkling golden flakes.
Download regulatory filings
Midwest IPO Timeline
| IPO Open Date | Wed, Oct 15, 2025 |
| IPO Close Date | Wed, Oct 15, 2025 |
| Tentative Allotment | Mon, Oct 20, 2025 |
| Initiation of Refunds | Thu, Oct 23, 2025 |
| Credit of Shares to Demat | Thu, Oct 23, 2025 |
| Tentative Listing Date | Fri, Oct 24, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Oct 17, 2025 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 14 | ₹14,910 |
| Individual investors (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 |