Midwest Ltd ₹451 Crore Issue Opens October 15 With A Price Band at ₹1,014-₹1,065 per Share

Hyderabad, October 10: Midwest Limited has announced the price band for its upcoming ₹451 crore IPO today, on October 10. The company has set a price band of ₹1,014-₹1,065 per share. The IPO will open on October 15 and will close on October 17. Interested investors can apply to the IPO once it opens for subscription. The allotment for the Midwest IPO is expected to be finalized on Oct 20, 2025. Midwest IPO will list on BSE, NSE, with a tentative listing date fixed as Oct 24, 2025.

Midwest Limited is an Indian company that is engaged in the mining, processing, and exporting of natural stones. The company was established in 1981, and is headquartered in Hyderabad, Telangana. For FY25, Midwest reported a net profit of ₹133.3 crore on revenue of ₹626.2 crore, reflecting a strong operational base and diversified portfolio.

Midwest IPO A Combination of Fresh Issue and OFS

The issue size for the IPO is ₹450 crore, including a fresh issue of 0.23 crore shares aggregating to ₹250.00 crore and offer for sale of 0.19 crore shares aggregating to ₹201.00 crore. The lot size is 14 shares, amounting to a minimum investment of ₹14,910 (14 shares) by a retail investor at the upper price band. The lot size investment for sNII is 14 lots (196 shares), amounting to ₹2,08,740, and for bNII, it is 68 lots (952 shares), amounting to ₹10,13,880.

Midwest IPO Phase II Expansion of its Quartz Facility

The company announced that it will utilise ₹130.3 crore towards the Phase II expansion of its quartz facility under its subsidiary Midwest Neostone. It will utilise ₹25.7 crore for the purchase of electric dump trucks. Furthermore, it will utilise ₹3.2 crore to fund solar energy integration at select mining sites, and ₹56.2 crore towards repayment of borrowings. The balance will be used for general corporate purposes.

Dam Capital Advisors Ltd. is the book-running lead manager, while Kfin Technologies Ltd. is the registrar of the issue.

REF: https://midwest.in/static/da3b8a534697630f20d0bff5e90097df/Midwest_Limited-Draft_Red_Herring_Prospectus-September_302024.pdf

https://midwest.in/static/91275faa534366d97fb5773eb3a7aeb9/Midwest_Limited_Red_Herring_Prospectus.pdf

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