Midwest Limited IPO

 

The details for the Midwest Limited IPO are as follows:

Detail	Description
IPO Open Date	Wednesday, October 15, 2025
IPO Close Date	Friday, October 17, 2025
Price Band	₹1,014 to ₹1,065 per equity share
Face Value	₹5 per equity share
Issue Size	₹451.00 Crores
Issue Type	Book Built Issue
Components	Fresh Issue (₹250.00 Cr) & Offer For Sale (OFS) (₹201.00 Cr)
Minimum Lot Size (Retail)	14 Shares
Minimum Investment (Retail)	₹14,910 (at the upper price band)
Basis of Allotment	Monday, October 20, 2025 (Tentative)
Listing At	BSE & NSE
Tentative Listing Date	Friday, October 24, 2025

About the Company

Midwest Limited is engaged in the exploration, mining, processing, and export of natural stones, primarily granite. It is noted as India's largest producer and exporter of Black Galaxy Granite. The company operates 16 granite mines across Telangana and Andhra Pradesh and is also diversifying into quartz processing.

Objective of the IPO

The net proceeds from the Fresh Issue (₹250 Cr) are intended to be used for:

1. Funding capital expenditure for Phase II of a Quartz Processing Plant in a subsidiary.

2. Purchasing Electric Dump Trucks for the company and a material subsidiary.

3. Capital expenditure for the integration of solar energy at certain mine sites.

4. Pre-payment or re-payment of certain outstanding borrowings.

5. General corporate purposes.

The proceeds from the Offer For Sale (₹201 Cr) will go to the selling promoters.