Midwest IPO Description – Midwest has over four decades of experience in the dimensional natural stone industry, dealing with exploration, mining, processing, sales, distribution, marketing, and export of natural stones. The company has expanded from granite mining and processing into quartz extraction, heavy mineral sand mining, and processing rare earth elements like titanium. Midwest is India’s largest producer and exporter of Black Galaxy Granite, a premium variety of granite, with 23% of the overall Black Galaxy Granite export volume in FY 2024. In fiscal year 2024, Midwest exported 48,249 cubic meters of Black Galaxy Granite.
Midwest Ltd.’s customer base, which includes processors and distributors, spans 17 countries and five continents, with primary export markets in China, Italy, and Thailand. Their clientele includes MP STENEKO AB (Sweden), GI-MA STONE SRL (Italy), Quanzhou Xingguang Stone and the Xiamen Group (China), King Marble and Granite (Thailand), Kodeyalam Stones, Anjanee Exports and Anjalee Granites (India). Midwest’s granite has been featured in projects like the CSSC Power (Group) Tower and the Shenyang MaoYe Center, both in China.
As of 31 March 2024, Midwest employed 1,232 dedicated personnel.
Promoters of Midwest– Mr. Kollareddy Rama Raghava Reddy, Mr. Kollareddy Ramachandra, Mrs. Kukreti Soumya, and Mrs. Uma Priyadarshini Kollareddy
Midwest Limited IPO Details
| Midwest IPO Dates | Coming soon |
| Midwest Issue Price | Coming soon |
| Fresh issue | INR 250 crore |
| Offer For Sale | INR 400 crore |
| Total IPO size | INR 650 crore |
| Minimum bid (lot size) | Coming soon |
| Face Value | INR 5 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Midwest Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 525.24 | 502.52 | 585.62 |
| Expenses | 446.19 | 443.54 | 465.53 |
| Net income | 67.09 | 54.44 | 100.32 |
| Margin (%) | 12.77 | 10.83 | 17.13 |
Midwest Offer News
Midwest Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 19.84 | 16.10 | 29.67 | – |
| PE Ratio | – | – | – | – |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 23.21 | 16.15 | 22.88 |
| NAV | 81.25 | 99.05 | 124.79 |
| ROCE (%) | 26.29 | 14.39 | 25.00 |
| EBITDA (%) | 20.13 | 17.83 | 25.86 |
| Debt/Equity | 0.35 | 0.45 | 0.29 |
Midwest IPO GMP Today (Daily Trend)
Midwest IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding capital expenditure by Midwest Neostone, its wholly owned subsidiary, towards Phase II of the quartz grit and powder processing plant (the “Phase II Quartz Processing Plant”) – INR 127.05 crore
- Capital expenditure for the purchase of electric dump trucks (“Electric Dump Trucks”) to be used by the company and Andhra Pradesh Granite (Midwest) (“APGM”), its Material Subsidiary – INR 25.76 crore
- Capital expenditure for integration of solar energy at certain Mines of the company– INR 3.26 crore
- Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the company and APGM– INR 53.80 crore
- General corporate purposes
Midwest IPO Subscription – Live Updates
Coming Soon
Shares allotted to anchor investors are not included in these calculations.
Midwest – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Midwest | – | 29.67 | 22.88 | 124.79 | 585.62 |
| Pokarna | 39.05 | 28.18 | 14.75 | 191.05 | 687.61 |
Midwest IPO Allotment Status
Midwest IPO allotment status will be available on the KFin Tech website. Click on this link to get the allotment status.
Midwest IPO Dates & Listing Performance
| IPO Opening Date | Coming soon |
| IPO Closing Date | Coming soon |
| Finalization of Basis of Allotment | Coming soon |
| Initiation of refunds | Coming soon |
| Transfer of shares to demat accounts | Coming soon |
| Midwest IPO Listing Date | Coming soon |
| Opening Price on NSE | Coming soon |
| Closing Price on NSE | Coming soon |
Midwest IPO Reviews – Subscribe or Avoid?
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Midwest Offer Lead Manager
DAM CAPITAL ADVISORS LIMITED
One BKC, Tower C, 15th Floor, Unit No.1511,
Bandra Kurla Complex, Bandra (East), Mumbai 400051
Phone: +912242022500
Email: [email protected]
Website: www.damcapital.in
Midwest Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com
MIDWEST LIMITED
8-2-684/3/25 & 26, Road No.12, Banjara
Hills, Hyderabad 500 034, Telangana, India
Phone: +91 40 2330 5194
Email: [email protected]
Website: www.midwest.in
Midwest IPO FAQs
How many shares in Midwest IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Midwest Public Offer?
The best way to apply for the Midwest public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Midwest IPO GMP today?
Midwest IPO GMP today is INR NA per share.
What is Midwest kostak rate today?
Midwest kostak rate today is INR NA per application.
What is the Midwest Subject to Sauda rate today?
Midwest Subject to Sauda rate today is INR NA per application.
