Midwest IPO: Price, Key Dates & Issue Details

Midwest Limited, a leading player in India’s natural stone industry, is gearing up for its Initial Public Offering (IPO) with a price band of ₹1,014 to ₹1,065 per share. The company aims to raise approximately ₹250 crore through the IPO, which will be a combination of fresh issue and offer-for-sale. Here’s everything you need to know before applying.

Midwest IPO Overview

• Price Band: ₹1,014 to ₹1,065 per equity share (Face Value ₹5 each)

• Issue Size: ₹451 crore (₹250 crore fresh issue + ₹201 crore offer-for-sale)

• Lot Size: 14 equity shares, in multiples of 14

• Listing Exchanges: BSE and NSE

• Registrar: Kfin Technologies Ltd

• Promoters: Kollareddy Rama Raghava Reddy and Guntaka Ravindra Reddy

The IPO structure includes a 50% allocation to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 35% reserved for Retail Investors. Employees have a reserved quota of shares aggregating up to 1 crore.

About Midwest Limited

Midwest Limited specializes in exploration, mining, processing, marketing, and export of natural stones, including granite and quartz. The company is a major manufacturer of Absolute Black Granite, known for its premium surface quality, which represented 10.8% of India’s black granite output in FY2024.

Operations and Expansion

• Granite Mines: 16 mines across Telangana and Andhra Pradesh

• Processing Facilities: Granite processing units in Telangana and Andhra Pradesh, plus quartz processing Phase I for engineered stone and solar glass sectors

• Mineral Extraction: Expanding into heavy mineral sands (rutile, ilmenite) and rare earth elements

Global Presence

Midwest exports to 17 countries, including China, Italy, Thailand, and Sweden. Its clientele includes MP STENEKO AB, GI-MA STONE SRL, Quanzhou Xingguang Stone Co., and King Marble & Granite Co. Ltd. The company has contributed to international projects like CSSC Power Tower in Shanghai and the Shenyang MaoYe Center.

How to Apply for the Midwest IPO

1. Check Eligibility: Ensure you have an active Demat account and a linked bank account.

2. Choose Platform: Apply via ASBA (through your bank) or through brokerage platforms offering IPO subscription.

3. Select Lot Size: Minimum of 14 shares per application; can apply in multiples of 14.

4. Monitor Allotment: Basis of allotment will be available on October 20, 2025.

5. Receive Shares: Credited to your Demat account on October 23, 2025.

Things to Keep in Mind

• The IPO is a mix of fresh issue and OFS, meaning some proceeds go to the company, and some to selling shareholders.

• The stock may be volatile on the listing day; plan entry and exit carefully.

• Compare the Midwest IPO with peers like Pokarna Ltd for P/E ratio and market positioning.

The Midwest IPO presents an opportunity for investors interested in the natural stone and mineral processing sector. With a strong operational track record, global exports, and expansion into high-demand segments, it is positioned to attract both retail and institutional investors.