The Midwest Ltd IPO is one of the most anticipated mainboard offerings in October 2025. The company plans to raise ₹451 crore through a combination of a fresh issue and an offer for sale (OFS). With strong fundamentals and a global presence in the natural stone industry, investors are keenly watching this IPO’s subscription and listing trends.
Midwest IPO Overview
The Midwest IPO is a book-built issue of ₹451 crore, comprising a fresh issue of ₹250 crore and an offer for sale worth ₹201 crore. The issue will open for public subscription on October 15, 2025, and close on October 17, 2025.
The Midwest IPO allotment date is expected on October 20, 2025, with shares likely to list on both BSE and NSE on October 24, 2025.
Midwest IPO Price Band and Lot Size
The Midwest IPO price band is set between ₹1,014 and ₹1,065 per share, with a face value of ₹5 per share. The lot size for retail investors is 14 shares, requiring a minimum investment of ₹14,910 at the upper price band.
For high-net-worth investors (HNIs), the small HNI (sNII) category requires a minimum of 14 lots (196 shares) amounting to ₹2,08,740, while the big HNI (bNII) category requires 68 lots (952 shares) worth ₹10,13,880.
Midwest Ltd Promoters and Lead Managers
The promoters of Midwest Ltd. are Mr. Kollareddy Rama Raghava Reddy, Mr. Kollareddy Ramachandra, Mrs. Kukreti Soumya, and Mrs. Uma Priyadarshini Kollareddy.
Dam Capital Advisors Ltd. is the book-running lead manager, and Kfin Technologies Ltd. is the registrar for the IPO.
About Midwest Ltd
Midwest Limited, incorporated in 1981, is a leading player in the natural stone mining and processing industry. The company specializes in the production and export of Black Galaxy Granite, a globally recognized granite variety known for its shimmering golden flakes.
The company operates 16 granite mines across Telangana and Andhra Pradesh and owns processing facilities in both states. It has also identified 25 potential mining sites across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu for future expansion.
Global Presence and Market Reach
Midwest Limited exports its premium granite products to 17 countries across five continents. Major international markets include China, Italy, Thailand, and Sweden. Key clients include MP Steneko AB (Sweden), GI-MA Stone SRL (Italy), and Quanzhou Xingguang Stone Co. Ltd. (China).
The company employs over 1,300 personnel, including permanent staff, contract workers, and consultants, emphasizing its strong operational scale.
Midwest IPO Promoter Holding
The promoter holding before the IPO stood at 95.83%, which will reduce to 84.39% post-issue. This reflects a moderate equity dilution while maintaining promoter control.
Expert Review: Should You Subscribe?
According to market analysts, Midwest Ltd. holds a strong position in India’s granite and natural stone export segment, commanding a 70% share in the Black Galaxy Granite market.
While the issue appears aggressively priced, experts suggest that cash-rich and risk-tolerant investors consider subscribing for medium to long-term gains. The company’s consistent profitability and global market presence add to its investment appeal.
The Midwest IPO brings together a mix of strong operational fundamentals, export leadership, and expansion potential. However, the valuation and limited listing premium expectations may temper short-term excitement.
Long-term investors confident in India’s natural stone export potential could consider this IPO a strategic addition to their portfolio.
Disclaimer: Investment in IPOs involves market risks. Please read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before making an investment decision.
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