
Materials · NSE / BSE
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.
Price Band
₹1014 – ₹1065
Issue Size
₹451 Cr
Lot Size
14 shares
GMP
+4.7%
Est. Listing
₹1115
at current GMP
Subscribed
92.34x
overall
Open
15 Oct 2025
Close
17 Oct 2025
Allotment
20 Oct 2025
Refund
21 Oct 2025
Demat Credit
22 Oct 2025
Listing
24 Oct 2025
Designated Registrar: Kfin Technologies Limited
Allotment Date
20 Oct 2025
Basis finalization
Refunds Initiate
21 Oct 2025
Mandate release
Demat Credit
22 Oct 2025
Shares in demat
Listing Debut
24 Oct 2025
Trading begins
Midwest Limited is bringing an initial public offering (IPO) in the Materials sector with an aggregate issue size of ₹451 Crores. The shares are offered at a price band of ₹1014 to ₹1065 per equity share on NSE and BSE. Currently, traders and retail applicants are calculating expected listing gains and break-even points based on unofficial grey market quotations.
Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 14 shares (approx. ₹14,910 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.
Allotment reconciliation will be managed by Kfin Technologies Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2025-10-22, while un-allotted funds or UPI block mandates will be released on 2025-10-21.
Allotment records are updated in batches. If the status is not yet available, please wait a few hours until the basis of allotment is fully finalized.
Since funds are blocked under ASBA/UPI, the bank will automatically release the blocked hold on your funds upon receipt of revocation instructions from the sponsor bank.