Midwest Limited – IPO
Midwest Limited – IPO Details
| IPO Date | October 15, 2025 to October 17, 2025 |
| Listing Date | October 24, 2025 |
| Face Value | ₹ 5 / Share |
| Price Band | ₹ 1014 to ₹ 1065 / Share |
| Lot Size | 14 Shares |
| Total Issue Size | 42,34,740 shares (Aggregating up to ₹451.00 Cr) |
| Fresh Issue | 23,47,417 share (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 | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 3,38,12,415 shares |
| Share holding post issue | 3,61,59,832 shares |
| Market Maker portion |
Midwest Limited Timeline (Tentative Schedule)
Midwest Limited IPO opens on October 15, 2025, and closes on October 17, 2025.
| IPO Open Date | October 15, 2025 |
| IPO Close Date | October 17, 2025 |
| Basis of Allotment | October 20, 2025 |
| Initiation of Refunds | October 23, 2025 |
| Credit of Shares to Demat | October 23, 2025 |
| Listing Date | October 24, 2025 |
| Cut-off time for UPI mandate confirmation | October 17, 2025 |
Midwest Limited IPO Lot Size
Investors can bid for a minimum of 14 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 14 | Rs.14,910 |
| Retail (Max) | 13 | 182 | Rs.193,830 |
| S-HNI (Min) | 14 | 196 | Rs.208,740 |
| S-HNI (Max) | 67 | 938 | Rs.998,970 |
| B-HNI (Min) | 68 | 952 | Rs.1,013,880 |
| HNI (Min) |
Midwest Limited IPO Promoter Holding
| Share Holding Pre Issue | 95.83% |
| Share Holding Post Issue |
Midwest Limited IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | Not more than 50.00% |
|
| NII (HNI) Shares Offered | Not less than 15.00% |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | Not less than 35.00% |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
Midwest Limited IPO Anchor Investors Details
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
About Midwest Limited
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.
Key Performance Indicator
The market capitalization of the Midwest IPO is ₹3851.02 Cr.
| KPI | Values |
|---|---|
| ROE | 19.42% |
| ROCE | 18.84% |
| Debt/Equity | 0.43 |
| RoNW | 22.11% |
| P/BV | 6.50 |
| PAT Margin (%) | 17.17% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 39.42 | 26.97 |
| P/E (x) | 27.01 | 39.49 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on the date of RHP and the latest FY earnings as of March 31, 2025, that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2025, that is available in RHP.
Objects of the Issue (Midwest Limited IPO Objectives)
Midwest Limited Contact Details
Midwest Ltd. 8-2-684/3/25 & 26, Road No.12, Banjara Hills Hyderabad, Telangana, 500034 Phone: +91 402330 5194 Email: [email protected] Website: http://www.midwest.in/ |
Midwest Limited IPO Registrar
Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: [email protected] Website: https://ipostatus.kfintech.com/ |