Midwest Limited
IPO Details
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₹92(8.64%)
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Midwest Limited's successfully completed its Initial Public Offering and commenced trading on Oct 24, 2025 at the NSE, BSE exchange. The company raised 42,34,742 Shares through this public offering, comprising 23,47,418 Shares in fresh capital and ₹201.00 Cr through the Offer for Sale mechanism.
The IPO was priced within the band of ₹1,014 to ₹1,065, with minimum application lots of 14 shares. The offering attracted significant investor interest during its subscription period from Oct 15, 2025 to Oct 17, 2025.
Share allotment was finalized on Oct 20, 2025, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Midwest Limited, incorporated in 1981, is involved in the exploration, mining, processing, marketing, distribution, and export of natural stones. The company is best known for producing and exporting Black Galaxy Granite, a distinctive variety featuring sparkling golden flakes. It operates 16 granite mines across Telangana and Andhra Pradesh, offering varieties like Black Galaxy, Absolute Black, and Tan Brown, along with processing facilities in both states for large-scale production. Midwest has also developed a strong resource base with 25 potential mining sites across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu. The company exports to 17 countries across five continents, with key markets in China, Italy, and Thailand, and major clients such as MP STENEKO AB (Sweden), GI-MA STONE SRL (Italy), and The Xiamen Group (China). As of June 30, 2025, it employed 1,326 people, including 475 permanent employees, 822 contract workers, and 29 consultants.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Extensive Distribution Network: Strong network with long-term contracts and interest-free advances ensures steady raw material supply and wide market reach.
- Exclusive Quarries: Ownership of premium Black Galaxy granite quarries provides access to high-value materials for luxury projects.
- Technology-Driven Operations: Industry-first SAP-based ERP system with real-time sensors boosts efficiency and minimizes manual work.
- Promoter Investigation Risk: A CBI notice to Promoter Mr. K.R.R. Reddy may affect reputation and management focus if further action is taken.
- Uncertain Reserve Estimates: Variations in stone reserves or price changes could make some mines unviable.
- Regulatory Approval Dependence: Delays or failures in obtaining or renewing approvals could disrupt operations.
- Mr. Kollareddy Rama Raghava Reddy
- Mr. Kollareddy Ramachandra
- Mrs. Kukreti Soumya
- Mrs. Uma Priyadarshini Kollareddy
Midwest Limited
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