Midwest IPO open date is October 15, 2025 and the IPO will close on October 17, 2025. Midwest IPO is a Book Built Issue. The company to raise around ₹451 crores via IPO that comprises fresh issue of ₹250 crores and offer for sale up to 18,87,323 equity shares with face value of ₹5 each.
Midwest IPO price band is ₹1014 to ₹1065 per share. The retail quota is 35%, QIB is 50%, and HNI is 15%. Midwest IPO to list on BSE, NSE on October 24, 2025. The allotment of Midwest IPO date is October 20, 2025.
The company reported revenue of ₹643.14 crores in 2025 against ₹603.33 crores in 2024. The company reported profit of ₹133.30 crores in 2025 against profit of ₹100.32 crores in 2024. As per the financials the IPO investors should apply the IPO GMP for a long term.
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 |
| Employee Discount | ₹101 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 Midwest IPO minimum market lot is 14 shares with ₹14,910 application amount. The retail investors can apply up-to 13 lots with 182 shares of ₹1,93,830 amount.
| 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 date is October 15 and the close date is October 17. The Midwest IPO allotment will be finalized on October 20 and the IPO listing 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 promoters of the company are 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 purchase of Electric Dump Trucks to be used by the Company and APGM, our Material Subsidiary | 25.76 |
| Capital expenditure for 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 one of the leading companies involved in the business of exploration, mining, processing, marketing, distribution, and export of natural stones. The company has over 40 years of experience in the natural stone industry, from mining and processing to sales, distribution, and marketing of different types of natural stones, they cover everything. Moreover, the Midwest is the largest producer and exporter of Black Galaxy Granite, which is a variety of Granite that is sparkling with flakes of a golden hue, Absolute Black Granite (a variety known for its remarkable surface finish), and Tan Brown Granite in India.
The company consists of 16 active granite mines in 6 locations across Telangana and Andhra Pradesh in India. Over the years of hard work, the company has established a strong international presence by exporting its products to 17 countries, mainly China, Italy, and Thailand. Its major clients include MP STENEKO AB (Sweden), GI-MA STONE SRL (Italy), Quanzhou Xingguang Stone Co., Ltd. (China), The Xiamen Group (China), King Marble and Granite Co. Limited (Thailand), and more. Midwest Limited Company consists of a total of 1,326 employees as of June 30, 2025.
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. |