Upcoming IPO: Telangana-based Midwest Ltd has set a value band of ₹1,014– ₹1,065 per share for its ₹451-crore preliminary public providing (IPO), which is able to open for subscription from October 15 to 17, with the anchor e book launching on October 14, the corporate introduced on Friday.
The IPO contains a contemporary challenge price ₹250 crore and an offer-for-sale (OFS) of ₹201 crore. The minimal quantity of funding required by an retail is ₹14,910, primarily based on higher value.
From the contemporary challenge proceeds, ₹130.3 crore can be allotted for Part II enlargement of its quartz facility underneath Midwest Neostone, ₹25.7 crore for electrical dump vans, and ₹3.2 crore for photo voltaic vitality integration at choose mining websites. Moreover, ₹56.2 crore can be used to repay debt, with the stability earmarked for normal company functions.
The allotment for the Midwest IPO is predicted to be finalized on October 20 and the IPO will checklist on BSE, NSE with a tentative itemizing date mounted as October 24.
DAM Capital Advisors, Motilal Oswal Funding Advisors, and Intensive Fiscal Companies are the book-running lead managers, whereas KFin Applied sciences serves because the registrar.
Midwest IPO GMP right this moment
The shares of Midwest IPO are at the moment not buying and selling within the unlisted market. Which means the shares of Midwest IPO can be found are the premium of ₹0 within the gray market, as per investorgain.
About Midwest
As of June 2025, Midwest’s whole borrowings stood at ₹270.1 crore. For FY 2025, Midwest reported a web revenue of ₹133.3 crore on income of ₹626.2 crore.
With over 40 years of expertise within the pure stone trade, the corporate has expanded from granite into quartz processing via its Part I facility, catering to the engineered stone and photo voltaic glass markets. Additionally it is branching into heavy mineral sands exploration and uncommon earth factor processing.
The corporate operates 16 granite mines throughout Telangana and Andhra Pradesh, producing high-value varieties resembling Black Galaxy, discovered solely in a single Andhra Pradesh village, and Absolute Black, each widespread in world building tasks.
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