midwest limited IPO
IPO Overview
Midwest limited IPO is a Mainboard public issue offered through a Book Building issue with a total issue size of ₹451.00 Cr. The IPO price band is set at ₹1014 to ₹1065 per share, and retail investors can apply with a minimum investment of ₹14.9K as per IPO guidelines.
The Midwest limited IPO opens on 15 Oct 2025 and closes on 17 Oct 2025. The IPO allotment is expected to be finalized on 20 Oct 2025, and the equity shares are proposed to be listed on BSE, NSE on 24 Oct 2025.
Investors can refer to the Midwest limited IPO RHP-DRHP for detailed information. The issue is managed by Dam Capital Advisors Ltd.,Intensive Fiscal Services Pvt.Ltd.,Motilal Oswal Investment Advisors Ltd. as the book running lead manager, while Kfin Technologies Limited is the registrar to the IPO. Before investing, market participants often review IPO details, valuation, PE ratio, financials, and risk factors.
About Company
Midwest Limited operates 16 granite mines across 6 locations in Telangana and Andhra Pradesh, producing a wide range of granite varieties, including: Black Galaxy, Absolute Black and Tan Brown.
The company also has one granite processing facility in each of the states of Telangana and Andhra Pradesh, enabling large-scale processing and finishing of granite products. In addition to the operational mines, Midwest Limited has built a strong resource base comprising 25 locations across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu for future mining operations.
Global Presence and Export Market
Midwest Limited has established a strong global presence, exporting its products to 17 countries across five continents, with China, Italy, and Thailand being the primary export markets. The company's key customers include:
MP STENEKO AB (Sweden), GI-MA STONE SRL (Italy), Quanzhou Xingguang Stone Co., Ltd. (China), The Xiamen Group (China), King Marble and Granite Co. Ltd. (Thailand) and more.
Workforce
As of June 30, 2025, Midwest Limited employed a total of 1,326 personnel, consisting of:
475 permanent employees
822 contract workers
29 consultants
Resource Strength and Expansion Plans
Apart from the current operational mines, Midwest Limited has identified 25 resource locations across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, ensuring long-term sustainability.
Investment Objective
Capital expenditure for purchase of Electric Dump Trucks to be used by the Company and APGM, our Material Subsidiary
Capital expenditure for integration of solar energy at certain Mines of the Company
Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company and APGM
General corporate purposes.