Midwest Limited IPO
Midwest Limited IPO
Mainboard NSE & BSE 100% Book Built Offer
Closed

Price Band

₹1014 - ₹1065

Total Issue

₹451 Cr

Bid Dates

15 Oct - 17 Oct

Subscription

92.31x

Listing Price

₹1165 (9.39%)

Website RHP Check Allotment

Valuation

Market Cap

₹3,851.02 Cr

P/E Ratio

27.02x

P/B Ratio

6.50x

Midwest IPO Dates

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

The company is engaged in the exploration, mining, processing, marketing, distribution, and export of natural stones, with a focus on sustainability. It is India’s largest producer and exporter of Black Galaxy Granite, a premium granite variety, accounting for approximately 64% of India’s Black Galaxy Granite exports in Fiscal 2025 (Source: CRISIL Report), with 44,992 cubic meters exported. The company is also the leading producer of Absolute Black Granite in India. Its production represented 15.7% of India’s total black granite output in Fiscal 2025, catering to strong global demand for both premium varietie

Midwest IPO Lot Size

Lot Information for Midwest IPO
Category 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
Allocate Funds

Category Reservation

QIB 50%
NII 15%
Ret 35%
Employee
Rs. 1Cr
Shareholder
₹0.00

Midwest IPO Size

Total ₹451 Cr
Fresh Issue
₹250 Cr (0.23 Cr Shares)
Offer For Sale
₹201 Cr (0.19 Cr Shares)

Objects of Issue

  1. Funding capex by our wholly owned subsidiary, towards the “Phase II Quartz Processing Plant”)
  2. Capex for purchase of electric dump trucks
  3. Capex for integration of solar energy at certain Mines of our Company
  4. Pre-payment of, in part or full, certain outstanding borrowings of the Company and APGM
  5. General corporate purposes

Midwest IPO Live Subscription

Updated as on 17-Oct-2025 19:00:00

Midwest IPO Subscription Status (Mainboard)
Category Sub (x) Offered Bids
QIB 146.91 8,45,071 12,41,48,388
NII 176.53 6,33,803 11,18,84,290
bHNI 201.72 4,22,535 8,52,34,128
sHNI 126.14 2,11,268 2,66,50,162
Retail 25.48 14,78,873 3,76,83,548
Employee 25.81 10,373 2,67,694
Total 92.31 29,68,120 27,39,83,920

Midwest IPO Details Live GMP

GMP ₹103
Est. Price ₹1,168
Est. Gain 9.67%

Midwest IPO Peer Comparison

(Rs. in crores)

Midwest IPO Peer Comparison Table
Particulars Midwest Pokarna
Revenue from Ops (in Crs.) 626.18 930.13
PAT (In Crs.) 107.51 187.55
EPS - Basic 39.42 60.49
NAV per share 163.75 250.93
RONW 22.11 24.11
EBITDA 27.43% 35.03%
PAT Margin 17.17% 20.16%
Price to earning (PE) 27.02 12.73
Debt to Equity 0.43 0.42

.All information pertains to FY 2024-25.

Midwest IPO Financial Performance

(Rs. in crores)

Financial Performance Metrics for Midwest IPO
Particulars Jun-25 Mar-25 Mar-24 Mar -23
Revenue from Operations 142.27 626.18 585.62 502.52
Profit after Tax 24.38 133.30 100.32 54.44
Net Worth 577.03 553.69 421.93 334.92
Total Borrowing 270.11 236.61 120.48 149.08
Total Assets 1,082.81 1,058.70 760.41 659.54
NAV per share (in ₹) 170.66 163.75 124.79 99.05
EPS - Basic (in ₹) 7.21 39.42 29.67 16.10

Key Performance Indicators (KPIs)

EBITDA

27.43

PAT

17.17

ROE

19.42

ROCE

18.84

All the data pertains to FY 2024-25.PE, PB, and market capitalization are calculated based on the Upper Price Band.

Promoter Holding

Promoter

95.83%

Public

4.17%

Kollareddy Raghava 73.58%
Kollareddy Ramachandra 5.00%
Kukreti Soumy 5.00%
Others 12.25%

Management

Rana Som
Chairman
Kollareddy Ramachandra
CFO

Registrar & Lead Managers

Registrar

KFin Technologies

Company Details

Name: Midwest Limited

Address: 8-2-684/3/25 & 26 Road No.12, Banjara Hills Hyderabad 500 034 Telangana, India

Number: 40 2330 5194

Email: cs@midwest.in

Website: www.midwest.in

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Frequently Asked Questions (FAQs)

What is Midwest IPO?
Midwest IPO is a Mainboard IPO having an issue size of ₹451 Crs. Midwest IPO is priced at ₹1014 - ₹1065 per share. The issue opens on 15 Oct 25 and closes on 17 Oct 25.
When will Midwest IPO open?
Midwest IPO opens on 15 Oct 25 and closes on 17 Oct 25.
What is the GMP of Midwest IPO?
The estimated Grey Market Premium of Midwest IPO is ₹103 per share (9.67%).
What is the lot size of Midwest IPO?
The minimum lot size of Midwest IPO is 14 shares & the minimum application amount is Rs. 14910.
When is the allotment of Midwest IPO?
The allotment date of Midwest IPO is 20 Oct 25.
What is the listing date of Midwest IPO?
The listing date of Midwest IPO is 24 Oct 25.
What is the subscription of Midwest IPO?
Midwest IPO is subscribed 87.89 times.
What is the price band of Midwest IPO?
Midwest IPO is priced at ₹1014 - ₹1065 per share.
How to check allotment status of Midwest IPO?
Click the allotment link on Midwest IPO page of IPO360.
How to apply Midwest IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Midwest IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Midwest IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Midwest IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date

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