Midwest IPO Opens Oct 15: Price Band, Key Dates & Details

The initial public offering (IPO) of Midwest Limited is set to open for public subscription next week, adding fresh momentum to India’s primary market. The IPO will be open from October 15 to October 17, with the anchor investor portion scheduled for October 14. The basis of allotment is expected on October 20, and the stock is likely to list on the BSE and NSE on October 24.

Price band and issue details

Midwest has fixed a price band of Rs 1,014 to Rs 1,065 per share, with a face value of Rs 5. The total issue size stands at Rs 451 crore, comprising a fresh issue of Rs 250 crore and an offer for sale (OFS) of Rs 201 crore by existing shareholders. Retail investors can bid for a minimum of one lot comprising 14 shares, which requires an investment of around Rs 14,910 at the upper price band.

Investor allocation and considerations

As per SEBI norms, 50% of the issue is reserved for Qualified Institutional Buyers (QIBs), 35% for Non-Institutional Investors (NIIs), and 15% for retail investors. 

Utilization of proceeds

Funds raised from the fresh issue will be used to expand the company’s quartz processing plant, invest in electric dump trucks and solar power systems to promote eco-friendly operations, and repay a portion of its existing borrowings. A part of the capital will also go towards general corporate purposes and operational enhancement.

Also Read: IPOs Next Week: Only 1 IPO Set To Debut On D-Street – All You Need To Know | Republic World

About the company

Based in Telangana, Midwest Limited is a key player in the natural stones and quartz industry, operating 16 mines across Telangana and Andhra Pradesh. The company supplies high-quality granite and quartz to both domestic and international markets, and its flagship “Black Galaxy” granite enjoys robust export demand. For the financial year 2024–25, Midwest reported a revenue of Rs 626.18 crore and a profit after tax of ₹107.5 crore, signalling consistent performance and profitability.

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