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
Price Band₹1014 - ₹1065 |
Dates15 Oct - 17 Oct |
GMP₹103 (9.67%) |
Subscriptions87.89 times |
Issue Size₹451.00 Crs |
Midwest IPO Objects
- Funding capex by our wholly owned subsidiary, towards the “Phase II Quartz Processing Plant”)
- Capex for purchase of electric dump trucks
- Capex for integration of solar energy at certain Mines of our Company
- Pre-payment of, in part or full, certain outstanding borrowings of the Company and APGM
- General corporate purposes
Midwest IPO Details
Price Band₹1014 - ₹1065 |
Listing AtNSE & BSE |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹250.00 Cr (0.23 Cr Shares) |
Offer For Sale₹201.00 Cr (0.19 Cr Shares) |
Total Issue₹451.00 Cr (0.42 Cr Shares) |
Face Value₹5 per equity share |
Midwest IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Retail |
Minimum
1
14
14,910
Maximum
13
182
1,93,830
|
|||
| Small HNI |
Minimum
14
196
2,08,740
Maximum
67
938
9,98,970
|
|||
| Big HNI |
Minimum
68
952
10,13,880
|
|||
Midwest IPO Subscription
Updated as on 17-Oct-2025 19:00:00
| Investor Category | Subscription (times) | Shares Offered | Shared Bid |
|---|---|---|---|
| QIB | 139.87 | 8,87,572 | 12,41,48,388 |
| NII | 168.07 | 6,65,681 | 11,18,84,290 |
| bNII (bids above ₹10L) | 192.06 | 4,43,788 | 8,52,34,128 |
| sNII (bids between ₹2L to ₹10L) | 120.10 | 2,21,893 | 2,66,50,162 |
| Retail | 24.26 | 15,53,255 | 3,76,83,548 |
| Employee | 24.44 | 10,952 | 2,67,694 |
| Total | 87.89 | 31,17,460 | 27,39,83,920 |
Midwest IPO GMP
The estimated Grey Market Premium of Midwest IPO is ₹103 per share (9.67%)
Category Allocation
| Particulars | Allocation |
|---|---|
| QIBs | Not more than 50% of Net Offer |
| Big HNIs (NII) | Not less than 10% of Net Offer |
| Small HNIs (NII) | Not less than 5% of Net Offer |
| Retail | Not less than 35% of Net Offer |
| Employee | Rs. 1Cr |
Midwest IPO Financials
| 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 |
The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | Values |
|---|---|
| EBITDA | 27.43 |
| PAT | 17.17 |
| ROE | 19.42 |
| ROCE | 18.84 |
| PE Ratio | 27.02 |
| PB Ratio | 6.50 |
| Mkt Cap (in Crs.) | 3,851.02 |
All the data pertains to FY 2024-25.PE, PB, and market capitalization are calculated based on the Upper Price Band.
Midwest IPO Peer Comparision
| 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 Peer Comparision
| Particulars | Midwest |
|---|---|
| Revenue from Ops (in Crs.) | 626.18 |
| PAT (In Crs.) | 107.51 |
| EPS - Basic | 39.42 |
| NAV per share | 163.75 |
| RONW | 22.11 |
| EBITDA | 27.43% |
| PAT Margin | 17.17% |
| Price to earning (PE) | 27.02 |
| Debt to Equity | 0.43 |
| Pokarna |
|---|
| 930.13 |
| 187.55 |
| 60.49 |
| 250.93 |
| 24.11 |
| 35.03% |
| 20.16% |
| 12.73 |
| 0.42 |
.All information pertains to FY 2024-25.
Promoter Details
| Name | Shareholding |
|---|---|
| Kollareddy Raghava | 73.58% |
| Kollareddy Ramachandra | 5.00% |
| Kukreti Soumy | 5.00% |
| Others | 12.25% |
| Total | 95.83% |
Management Details
| Name | Designation |
|---|---|
| Rana Som | Chairman |
| Kollareddy Ramachandra | CFO |
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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Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Midwest IPO is a Mainboard IPO having an issue size of Rs. ₹451.00 Crs. Midwest IPO is priced at ₹1014 - ₹1065 per share. The issue opens on 15 Oct 25 and closes on 17 Oct 25.
Midwest IPO opens on 15 Oct 25 and closes on 17 Oct 25.
The estimated Grey Market Premium of Midwest IPO is ₹103 per share (9.67%).
The minimum lot size of Midwest IPO is 14 shares & the minimum application amount is Rs. 14910.
The allotment date of Midwest IPO is 20 Oct 25.
The listing date of Midwest IPO is 24 Oct 25.
Midwest IPO is subscribed 87.89 times.
Midwest IPO is priced at ₹1014 - ₹1065 per share.
Click the allotment link on Midwest IPO page of IPO360.
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