Midwest IPO Day 1: Check Subscription Status, Key Highlights, and More

Midwest Ltd., the natural stone and quartz processor, has launched its ?451 crore Initial Public Offering (IPO) today, October 15, 2025. The company has raised ?135 crore from anchor investors on October 14, 2025.?

Midwest IPO: Issue Details

Midwest IPO is a book-building issue of ?451 crore, consisting of a fresh issue of ?250 crores and an offer for sale (OFS) of ?201 crore worth of shares

The price band is set between ?1014 and ?1065 per share. The basis of allotment will be finalised by October 20, 2025, and the tentative listing date on BSE and NSE is October 24, 2025.?

Midwest IPO Day 1 Subscription Status

[15-October-2025 17:00:00 hrs]

Utilisation of IPO Proceeds

The net proceeds from the fresh will be used to:

• Invest in the company’s wholly owned subsidiary, Midwest Neostone Private Limited, by providing a loan to fund the capital expenditure related to the Phase II expansion of its quartz grit and powder processing facility.
• To fund the capital expenditure towards the purchase of electric dump trucks
• To extend a loan to Andhra Pradesh Granite (Midwest) Private Limited (a material subsidiary)
• Invest in solar energy system installation and integration across select mining sites.?
• Repay/prepay outstanding company borrowings?
• General corporate purposes?

Midwest Business Overview

Midwest is engaged in the business of exploration, mining, processing, marketing, distribution, and export of natural stones. The company is India’s largest producer and exporter of Black Galaxy Granite (holding a share of approximately 64% of the Indian export market in Fiscal 2025) and Absolute Black Granite.?

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