Midwest IPO Date, Review, Price, Allotment Details
The Midwest IPO will open on October 15, 2025, and close on October 17, 2025. It is a Book Built Issue, with the company aiming to raise approximately ₹451 crore. This includes a fresh issue of ₹250 crore and an offer for sale of up to 18,87,323 equity shares with a face value of ₹5 each.
The IPO price band has been set at ₹1,014 to ₹1,065 per share. The allocation quota comprises 50% for QIBs, 15% for HNIs, and 35% for retail investors. The allotment is scheduled for October 20, 2025, and the company is expected to list on BSE and NSE on October 24, 2025.
Financially, the company reported revenue of ₹643.14 crore in 2025 compared to ₹603.33 crore in 2024. Profit also increased from ₹100.32 crore in 2024 to ₹133.30 crore in 2025. Based on its consistent financial growth, the IPO appears suitable for long-term investors.
Midwest IPO Details
IPO Open Date October 15, 2025 IPO Close Date October 17, 2025 Face Value ₹5 Per Equity Share IPO Price Band ₹1014 to ₹1065 Per Share Issue Size Approx ₹451 Crores Fresh Issue Approx ₹250 Crores Offer for Sale: Approx 18,87,323 Equity Shares Issue Type Book Built Issue IPO Listing BSE, NSE DRHP Draft Prospectus 
RHP Draft Prospectus
Midwest IPO Market Lot
The minimum market lot for the Midwest IPO is 14 shares, requiring an application amount of ₹14,910. Retail investors can apply for up to 13 lots, totaling 182 shares, with a maximum investment of ₹1,93,830
Application Lot Size Shares Amount Retail Minimum 1 14 ₹14,910 Retail Maximum 13 182 ₹1,93,830 S-HNI Minimum 14 196 ₹2,08,740 S-HNI Maximum 67 938 ₹9,98,970 B-HNI Minimum 68 952 ₹10,13,880
IPO Reservation
Investor Category Share Offered -% Shares Anchor Investor – Shares -% QIB (Ex. Anchor) – Shares 50% NII Shares Offered – Shares 15% Retail Shares Offered – Shares 35%
Midwest IPO Anchor Investors
Anchor Bidding Date October 14, 2025 Anchor Investors List Shares Offered [.] Shares Anchor Size [.] Cr. lock-in period end date 50% shares (30 Days) November 19, 2025 lock-in period end date 50% shares (90 Days) January 18, 2026
Midwest IPO Dates
The Midwest IPO will open on October 15 and close on October 17. The allotment of shares is scheduled for October 20, and the IPO is expected to list on October 24.
IPO Open Date: October 15, 2025 IPO Close Date: October 17, 2025 Basis of Allotment: October 20, 2025 Refunds: October 23, 2025 Credit to Demat Account: October 23, 2025 IPO Listing Date: October 24, 2025 IPO Bidding Cut-off Time: October 17, 2025 – 5 PM
Promoters and Holding Pattern
The company is promoted by Mr. Kollareddy Rama Raghava Reddy, Mr. Kollareddy Ramachandra, Mrs. Kukreti Soumya, and Mrs. Uma Priyadarshini Kollareddy.
Particular Shares % Share Promoter Holding Pre-Issue 3,38,12,415 95.83% Promoter Holding Post Issue 3,61,59,832 84.39%
Objects of the Issue & Utilisation of Proceeds
Purpose Crores Funding capital expenditure by Midwest Neostone, the wholly owned subsidiary, towards the Phase II Quartz Processing Plant. 127.05 Capital expenditure for the purchase of Electric Dump Trucks to be used by the Company and APGM, our Material Subsidiary 25.76 Capital expenditure for the integration of solar energy at certain Mines of the Company 3.26 Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company and APGM 53.8 General Corporate Purpose –
About Midwest IPO
Founded in 1981, Midwest Limited is a leading company specializing in the exploration, mining, processing, marketing, distribution, and export of natural stones. With over 40 years of experience in the industry, the company manages every stage of the natural stone value chain, from mining and processing to sales and international distribution.
Midwest Limited is the largest producer and exporter in India of Black Galaxy Granite, known for its golden sparkling flakes, Absolute Black Granite, prized for its exceptional surface finish, and Tan Brown Granite.
The company operates 16 active granite mines across six locations in Telangana and Andhra Pradesh. Over the years, it has built a strong international presence, exporting to 17 countries, including China, Italy, and Thailand. Key clients include MP STENEKO AB (Sweden), GI-MA STONE SRL (Italy), Quanzhou Xingguang Stone Co., Ltd. (China), The Xiamen Group (China), and King Marble and Granite Co. Limited (Thailand).
As of June 30, 2025, Midwest Limited employs a total of 1,326 personnel.
Midwest IPO Company Financial Report
Amount ₹ in Crores
Period Ended Revenue Expense PAT Assets 2023 ₹522.23 ₹443.54 ₹54.44 ₹656.00 2024 ₹603.33 ₹465.53 ₹100.32 ₹757.12 2025 ₹643.14 ₹490.92 ₹133.30 ₹1,058.70 June 2025 ₹146.47 ₹113.60 ₹24.38 ₹1,082.81
Midwest IPO Valuation – FY2025
Check Midwest IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
KPI Values ROE: 19.42% ROCE: 18.84% EBITDA Margin: 27.43% PAT Margin: 17.17% Debt to equity ratio: 0.43 Earning Per Share (EPS): ₹39.42 (Basic) Price/Earning P/E Ratio: N/A Return on Net Worth (RoNW): 22.11% Net Asset Value (NAV): ₹163.75
Peer Group Comparison
Company EPS PE Ratio RoNW % NAV Income Pokarna Limited 60.49 12.73 24.11% 250.93 930.13 Cr.
IPO Lead Managers aka Merchant Bankers
- Dam Capital Advisors Ltd.
- Intensive Fiscal Services Pvt.Ltd.
- Motilal Oswal Investment Advisors Ltd
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: midwest.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Company Address
Midwest Ltd.
8-2-684/3/25 & 26,
Road No.12,
Banjara Hills
Hyderabad, Telangana, 500034
Phone: +91 402330 5194
Email: cs@midwest.in
Website: http://www.midwest.in/