Midwest IPO Will Open On Oct 15, 2025 and Close On Oct 17, 2025.The ₹451.00 Cr. IPO Is A Book Build Issue, Consisting Entirely of Fresh Issue and Offer for Sale. Midwest IPO Price Band Is Set At ₹1,014 to ₹1,065 Per Share.
The Allotment will Be Finalized On Oct 20, 2025 and Listing date is Expected on The NSE BSE By Oct 24, 2025. Investor Quota like 50% QIB, 35% Retail, and 15% HNI Category.
Financial Year 2025 Company Posted a Total income 643.14 Cr. and A Net Profit of ₹133.30 Cr. Showing Strong Growth From The Previous Year. Based On Financial, The IPO Looks Promising For Long-term Investors.
Midwest IPO Dates & Price Band Details
| Open Date | Oct 15, 2025 |
|---|---|
| Close Date | Oct 17, 2025 |
| Price Band | ₹1,014 to ₹1,065 per share |
| Face Value | ₹5 per equity share |
| Lot Size | 14 Shares |
| Type of Issue | Fresh Issue and OFS |
| Total Issue Size | 42,34,740 shares (Approx ₹451.00 Cr) |
| Fresh Issue | 23,47,417 shares (Approx ₹250.00 Cr) |
| Offer for Sale | 18,87,323 shares (Approx ₹201.00 Cr) |
| Employee Discount | ₹101 per Equity Share |
| Issue Type | Bookbuilding IPO |
| Listing Exchange | BSE & NSE |
| Retail Investor Quota | 35.00% |
| QIB Quota | 50.00% |
| NII (HNI) Quota | 15.00% |
| Anchor Investor List | Click Here |
| DRHP (Draft Prospectus) | Click Here |
| RHP (Final Prospectus) | Click Here |
About Midwest India Limited
Our Company was originally incorporated on December 11, 1981 as “ Midwest India Limited” We have a legacy of more than four decades in the dimensional natural stone (i.e., naturally occurring stones) industry with experience in exploration, development and operation of mines, stone processing and fabrication, sales, distribution and marketing of various types of natural stone.
We are engaged in the Business of exploration, Mining, Processing, Marketing, Distribution and Export of Natural stones, with an emphasis on Sustainability.
We are India’s largest producer and exporter of Black Galaxy Granite (a variety of Granite which is sparkling with flakes of a golden hue), and held a share of approximately 64% of the Indian export market for Black Galaxy Granite in Fiscal 2025.
Our mining operations are mechanized and incorporate advanced engineering and process optimization, aided by vertical integration of key operational components such as customized Diamond Wires.
We currently have 16 operational Granite Mines across 6 locations in the states of Telangana and Andhra Pradesh in India.
Our customers, comprising processors and distributors, are located across 17 countries and five continents, with China, Italy and Thailand being our primary export markets.
Midwest IPO Market Lot Size
The Minimum Lot Size For The Midwest IPO is 14 Shares, Requiring An Application Amount of ₹14,910 For Retail Investors. Investors Must Apply in Multiples of The Lot Size.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 14 | ₹14,820 |
| Retail Maximum | 13 | 182 | ₹1,93,830 |
| S-HNI Minimum | 14 | 196 | ₹2,08,740 |
| S-HNI Maxmum | 67 | 938 | ₹9,98,970 |
| B-HNI Minimum | 68 | 952 | ₹10,13,880 |
Midwest IPO Allotment & Listing Dates
Midwest IPO Will Open on Oct 15, and Close on Oct 17, 2025. The allotment is Expected on Oct 20, With the Listing Scheduled on NSE BSE For Oct 24, 2025 (More information below table).
| Anchor Investor Bidding | Tue, Oct 14, 2025 |
|---|---|
| IPO Open | Wed, Oct 15, 2025 |
| IPO Close | Fri, Oct 17, 2025 |
| Allotment Finalisation | Mon, Oct 20, 2025 |
| Refunds / Unblocking | Thu, Oct 23, 2025 |
| Shares Credited to Demat | Thu, Oct 23, 2025 |
| Listing Date | Fri, Oct 24, 2025 |
Midwest IPO Financial Report (FY 2025)
Midwest Reported a Total Income of ₹643.14 Cr. in FY 2025, Slightly up From ₹603.33 Cr. in FY 2024. The Company Net Profit Also Rose to ₹133.30 Cr. From ₹100.32 Cr. in the Previous Year Showing Consistent Financial Growth Ahead of its IPO. (More information below table).
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1,082.81 | 1,058.70 | 757.12 | 656.00 |
| Total Income | 146.47 | 643.14 | 603.33 | 522.23 |
| Profit After Tax | 24.38 | 133.30 | 100.32 | 54.44 |
| EBITDA | 38.97 | 171.78 | 151.44 | 89.59 |
| NET Worth | 577.03 | 553.69 | 421.93 | 334.92 |
| Reserves and Surplus | 625.60 | 602.26 | 484.86 | 408.88 |
| Total Borrowing | 270.11 | 236.61 | 120.48 | 149.08 |
| Amount in ₹ Crore |
Midwest IPO Valuation Report – FY 2025 (KPI)
Check Detailed Midwest IPO Valuation Metrics for FY 2025, including EPS, P/E Ratio, RoNW, NAV, ROCE, and other key financial indicators. These Ratios help Investors Assess the Company financial Health & Valuation Before applying for The IPO. (More information below table).
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 19.42% |
| Return on Capital Employed (ROCE) | 18.84% |
| EBITDA Margin | 27.43% |
| PAT Margin | 17.17% |
| Debt-to-Equity Ratio | 0.43 |
| Earnings Per Share (EPS) | 39.42 |
| Price to Earnings Ratio (P/E) | 27.01 |
| Return on Net Worth (RoNW) | 22.11% |
| Net Asset Value (NAV) | 163.75 |
Our Competitive Strengths
India’s largest producer and exporter of Black Galaxy Granite, a premium variety of Granite.
Presence across the entire Dimensional Granite value chain with mine to distribution capabilities.
Emphasis on Research and Development (“R&D”) and Technology Integration.
Significant establishment costs with a long gestation period benefitting established players.
Proven track record of financial and operational performance.
Experienced Promoters and professional management team with deep industry experience and track record.
Our Company Promoters
Mr. Kollareddy Rama Raghava Reddy
Mr. Kollareddy Ramachandra
Mrs. Kukreti Soumya
Mrs. Uma Priyadarshini Kollareddy
Midwest Comparison With Industry Peers
| Name of Company | Face Value ( | CMP | EPS (₹) | NAV (per share) (₹) | P/E | RoNW (%) | Revenue Operations (₹ million) |
|---|---|---|---|---|---|---|---|
| Midwest Limited | 5 | – | 39.42 | 163.75 | 27.01 | 22.11 | 6,261.82 |
| Pokarna Limited | 2 | 769.75 | 60.49 | 250.93 | 12.73 | 24.11 | 9,301.28 |
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Midwest Company Contact Details
Corporate Office: 8-2-684/3/25 & 26,
Road No.12, Banjara Hills,
Hyderabad 500 034, Telangana, India
Tel: +91 40 2330 5194
E-mail: cs@midwest.in
Website: www.midwest.in
Midwest Lead Manager
DAM Capital Advisors Limited
Altimus 2202, Level 22
Pandurang Budhkar Marg
Worli, Mumbai 400 018
Maharashtra, India
Tel: +91 22 4202 2500
E-mail: midwest.ipo@damcapital.in
Website: www.damcapital.in
Intensive Fiscal Services Private Limited
914, 9th Floor, Raheja Chambers
Free Press Journal Marg
Nariman Point, Mumbai 400 021
Maharashtra, India
Tel: + 91 22 2287 0443
E-mail: Midwest.ipo@intensivefiscal.com
Website: www.intensivefiscal.com
Motilal Oswal Investment Advisors Limited
Motilal Oswal Tower, Rahimtullah Sayani Road
Opposite Parel ST Depot
Prabhadevi, Mumbai 400 025
Maharashtra, India
Tel: +91 22 7193 4380
E-mail: midwest.ipo@motilaloswal.com
Website: www.motilaloswalgroup.com
Midwest IPO Registrar
KFin Technologies Limited
Selenium Tower-BPlot No. 31 & 32,
Financial District Nanakramguda,
Serilingampally Hyderabad 500 032
Telangana, India
Tel: +91 40 6716 2222
E-mail: midwest.ipo@kfintech.com
Website: www.kfintech.com
Midwest IPO FAQs
Question 1: What is the Midwest IPO?
Answer 1: Midwest IPO is a Mainboard IPO of 42,34,740 equity shares of the face value of ₹5 approximately up to ₹451.00 Cr. The issue is price at ₹1,014 to ₹1,065 per share.
The Midwest IPO opens on 15, Oct 2025 and closes on 17, Oct 2025.
KFin Technologies Limited is the registrar for the IPO. The shares to be listed on NSE BSE.
Question 2: How to apply in Midwest IPO through Groww?
Answer 2: Groww customers can apply online in Midwest IPO using UPI as a payment gateway. Groww customers can apply in Midwest IPO by login into Groww (back office) and submitting an IPO application form.
Steps to apply in Midwest IPO through Groww –
- Visit the Groww website and login to Groww.
- Go to Main Page and click the Products & tools and click IPO tab.
- New page Open and Show ‘ Midwest IPO’ click the ‘Apply’ button.
- Show IPO detail Shares lot Size and Bid Price & click here to Cutoff Price check Box and Continue.
- Inter Your UPI id like . 95****299@kotak accept terms and condition click Box and Apply For IPO
- groww share payment link Your UPI Mobile Number Pay Payment for IPO Bid to approve the e-mandate successfully submit application .
Question 3: When Midwest IPO will open?
Answer 3: The Midwest IPO opens on Oct 15, 2025 and closes on Oct 17, 2025.
Question 4: What is the lot size of Midwest IPO?
Answer 4: Midwest IPO lot size and the minimum order quantity is 14 Shares.
Question 5: How to apply for Midwest IPO?
Answer 5: You can apply in Midwest IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Groww, Zerodha, Upstox, 5Paisa, Phonepe Share Market, HDFC Bank, and Angel one.
Question 6: When is Midwest IPO allotment date?
Answer 6: The Basis of Allotment for Midwest IPO will be on Tue, Oct 20, 2025, and the allotted shares will be credited to your demat account by, Thu, Oct 23, 2025. For Check the Midwest IPO allotment status.
Question 7: When is Midwest IPO listing date?
Answer 7: The Midwest IPO listing date is Oct 24, 2025. The date of Midwest IPO listing on Fri, Oct 24, 2025.
