IPO Details
Bidding Dates
15 Oct 25 - 17 Oct 25
Lot Size
14
Price Range ₹
1014 - 1065
Exchange Status
BSE,NSE
Total Equity
₹ 0.00Cr
IPO Doc
IPO Timeline
Listing
--
Offer start
15 Oct 2025
Offer end
17 Oct 2025
Allotment
20 Oct 2025
Refund initiation
23 Oct 2025
Demat transfer
23 Oct 2025
Listing
--
Offer start
15 Oct 2025
Offer end
17 Oct 2025
Allotment
20 Oct 2025
Refund initiation
23 Oct 2025
Demat transfer
23 Oct 2025
About Company
Midwest Limited, incorporated in 1981, is a leading player in the exploration, mining, processing, marketing, and export of natural stones, specializing in Black Galaxy Granite. The company operates 16 granite mines across Telangana and Andhra Pradesh and has processing facilities in both states. Midwest holds resource locations across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu to ensure long-term sustainability.The company exports to 17 countries globally, with key markets including China, Italy, and Thailand. It employs over 1,300 personnel, comprising permanent staff, contract workers, and consultants.The company plans to use IPO proceeds for capacity expansion, equipment modernization (including electric dump trucks and solar energy integration), and debt repayment.
Year Founded
11-12-1981
Promotor Details
Rana Som
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 95.83 | 0 |
| Share Capital | 32403564 | 0 |
Highlights
- India’s largest processor and exporter of Black Galaxy and Absolute Black granite with a diversified product and geographic base.
- Steady revenue growth with a significant 33% rise in PAT and strong EBITDA margin improvement.
- Presence across five continents with established relationships with reputed international clients.
- Growing resource base and planned investments in automation and solar energy demonstrate a forward-looking growth strategy.
- Favorable ROE, ROCE, PAT margin, and a manageable debt-to-equity ratio underscore operational and financial efficiency.
Challenges
- Exposure to the natural stone industry, which is cyclical and sensitive to global economic fluctuations and construction demand volatility.
- Fluctuations in costs of mining inputs and energy can impact margins.
- Heavy reliance on international markets could lead to vulnerability due to geopolitical risks and foreign currency fluctuations.
- Significant capital expenditure plans might increase leverage and affect cash flows in the near term.
- Intense competition in domestic and global markets with pressure on pricing and margins.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2023 | 6,729.86 | 7.43 | 670.93 | 637.77 | 18.8653 |
| 2022 | 6,164.60 | 7.43 | 544.36 | 540.83 | 15.9978 |
| 2024 | 7,872.27 | 96.61 | 1,003.24 | 965.29 | 28.5475 |
