Midwest Limited
ListedMainboardMaterials · 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
₹50
+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
Last updated 12 days ago
Overall Subscription
92.34x
Total Demand
QIB Multiplier
146.99x
Institutions & Funds
NII / HNI
176.57x
High Net-Worth
Retail (RII)
25.49x
Individual Bidders
Category-Wise Subscription Breakup
Live bidding breakdown by institutional, non-institutional, and retail investors
| Category | Shares Offered | Shares Applied / Bid | Times Subscribed |
|---|---|---|---|
| QIB | 844,579 | 124,148,388 | 146.99x |
| NIB | 633,655 | 111,884,290 | 176.57x |
| HNIs(10L +) | 422,437 | 85,234,128 | 201.77x |
| HNIs (2-10L) | 211,218 | 26,650,162 | 126.17x |
| RETAIL | 1,478,529 | 37,683,548 | 25.49x |
| EMPLOYEES | 10,373 | 267,694 | 25.81x |
| Total | 3,600,791 | 385,868,210 | 92.34x |
Application-Wise Breakup
Total unique applications received across retail and HNI tranches
| Category | Applications Reserved | Applications Received | Times Subscribed |
|---|---|---|---|
| RETAIL | 105,609 | 2,110,070 | 19.98x |
| EMPLOYEES | — | 12,822 | 0.00x |
| HNIs(10L +) | 2,155 | 87,309 | 40.51x |
| HNIs (2-10L) | 1,078 | 129,963 | 120.56x |
| Total Applications | 108,842 | 2,340,164 | 21.50x |
Day-Wise Subscription Progress
Track continuous institutional and retail bidding order books for all active issues on the ipo live subscription feed.
About Midwest Limited Public Issue & Market Profile
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.
Bidding & Quota Instructions:
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 Schedule:
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.
Frequently Asked Questions
What is Midwest Limited IPO GMP today?
The latest Grey Market Premium (GMP) for Midwest Limited IPO is ₹50 per equity share. Based on the upper price band of ₹1014 to ₹1065 per equity share, the estimated listing price is ₹1115 (+4.7% expected listing gain).
What is the expected profit per lot for Midwest Limited IPO?
With a lot size of 14 shares and current GMP of ₹50, the expected profit per application lot is approx ₹700 (+4.7% gain). Minimum application cost is approx ₹14,910.
What is the issue size and price band for Midwest Limited IPO?
The Midwest Limited IPO aggregate issue size is ₹451 Crores with an equity price band set at ₹1014 to ₹1065 per equity share. The retail lot size is 14 shares requiring a minimum capital outlay of approx. ₹14,910.
How can I check Midwest Limited IPO live subscription demand?
Live subscription figures are compiled real-time from the NSE and BSE bidding engines. Currently, overall subscription is 92.34x (Retail: 25.49x, QIB: 146.99x, NII: 176.57x). You can track live multiples directly on our dedicated subscription page.
Where and when will Midwest Limited IPO allotment status be published?
The basis of allotment will be published on the official registrar portal (Kfin Technologies Limited) and the BSE status verification website on or around 2025-10-20. Investors can verify status using PAN card or application number.
When is the listing date for Midwest Limited IPO?
Midwest Limited shares are scheduled to list on NSE and BSE on 2025-10-24.