Midwest Ltd. IPO Details – Price, Date, GMP & Analysis
Listed
Mainboard
Price Range:
Rs.1,065
Issue Size:
Rs.451.10 Cr
Lot Size:
14 shares
Open Date:
October 15
Midwest Ltd. IPO Overview
Bidding Dates
October 15 - October 17
Min Investment
₹14
Price Range
₹1,065
Issue Size
₹451.10 Cr
IPO DRHP Doc
Company Overview
Midwest Limited, incorporated in 1981, is engaged in exploration, mining, processing, marketing, distribution, and export of natural stones, particularly Black Galaxy Granite. The company operates 16 granite mines in Telangana and Andhra Pradesh, producing various granite types. It has processing facilities in both states and a strong resource base for future operations. Midwest exports to 17 countries, with key markets in China, Italy, and Thailand, and employs 1,326 personnel.
IPO Timeline
Opens
Oct 15
Closes
Oct 17
Allotment
Oct 20
Refunds
Oct 23
Shares Credit
Oct 23
Listing
Oct 24
Opens
Oct 15
Closes
Oct 17
Allotment
Oct 20
Refunds
Oct 23
Shares Credit
Oct 23
Listing
Oct 24
Latest Subscription Data
| Category | Subscription | Status |
|---|---|---|
| QIB (Qualified Institutional Buyers) | 146.99x | Oversubscribed |
| NII (Non-Institutional Investors/HNI) | 176.57x | Oversubscribed |
| RII (Retail Individual Investors) | 25.52x | Oversubscribed |
| Total Subscription | 92.36x | Oversubscribed |
Last updated: Oct 17, 2025, 05:06 PM
Current GMP:
Rs.100
Est. Listing:
Rs.1165
Est. Gain:
+9.4%
Star Rating:
★★★★★(0/5)
Financial Information
Financial Data Table
Detailed breakdown of financial metrics across years
| Financial Metric | 2025 | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Assets | ₹1,058.7 Cr | ₹1,058.7 Cr | ₹757.12 Cr | ₹656 Cr |
| EBITDA | ₹171.78 Cr | ₹171.78 Cr | ₹151.44 Cr | ₹89.59 Cr |
| NET Worth | ₹553.69 Cr | ₹553.69 Cr | ₹421.93 Cr | ₹334.92 Cr |
| Profit After Tax | ₹133.3 Cr | ₹133.3 Cr | ₹100.32 Cr | ₹54.44 Cr |
| Reserves and Surplus | ₹602.26 Cr | ₹602.26 Cr | ₹484.86 Cr | ₹408.88 Cr |
| Total Borrowing | ₹236.61 Cr | ₹236.61 Cr | ₹120.48 Cr | ₹149.08 Cr |
| Total Income | ₹643.14 Cr | ₹643.14 Cr | ₹603.33 Cr | ₹522.23 Cr |
Financial data is visualized in the chart above
Strengths & Risks Analysis
Key Strengths
Competitive advantages and positive aspects
- Over four decades of experience in the natural stone industry with a strong global presence.
- Market leadership in Black Galaxy Granite exports, holding a 23% share of India’s exports in FY2024.
- Diversified product portfolio catering to multiple industries, including construction and renewable energy.
- Integrated operations from mining to distribution, enhancing operational efficiency.
- Strategic expansion into high-value materials like quartz grit and heavy mineral sands.
IPO Details
Midwest IPO Details
| Employee Discount | ₹101.00 |
| Face Value | ₹5 per share |
| Fresh Issue | 23,48,401 shares (aggregating up to ₹250.10 Cr) |
| IPO Date | October 15, 2025 to October 17, 2025 |
| Issue Price Band | ₹1014 to ₹1065 per share |
| Issue Price Final | ₹1065 per share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Listing Date | October 24, 2025 |
| Lot Size | 14 Shares |
| Offer for Sale | 18,87,323 shares of ₹5 (aggregating up to ₹201.00 Cr) |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Share Holding Post Issue | 3,61,60,816 shares |
| Share Holding Pre Issue | 3,38,12,415 shares |
| Total Issue Size | 42,35,724 shares (aggregating up to ₹451.10 Cr) |
Midwest IPO Reservation
Share Reservation Distribution
QIB
2,112,675 shares (49.88%)
Retail
1,478,873 shares (34.91%)
Anchor Investors
1,267,605 shares (29.93%)
QIB (Ex-Anchor)
845,070 shares (19.95%)
HNI (NII)
633,803 shares (14.96%)
bNII (>₹10L)
422,535 shares (9.98%)
sNII (<₹10L)
211,268 shares (4.99%)
Employee
10,373 shares (0.24%)
Midwest IPO Promoter Holding
| Promoter Holding Post Issue | 84.39% |
| Promoter Holding Pre Issue | 95.83% |
Midwest IPO Listing Details
| BSE Script Code | 544587 |
| Final Issue Price | ₹1065 per share |
| ISIN | INE0XAD01024 |
| Listing Date | October 24, 2025 |
| NSE Listing Group | EQ (Rolling) |
| NSE Symbol | MIDWESTLTD |
Key Dates
Open Date:October 15
Close Date:October 17
Listing Date:October 24
