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Objective of the Issue
The Net Proceeds are proposed to be utilized in accordance with the details as set out in the table below:
| Particulars |
Amount (₹ million) |
| Investment in Midwest Neostone, our wholly owned subsidiary, by way of a loan, towards funding capital expenditure for the Phase II Quartz Processing Plant. | 1,302.98 |
| Capital expenditure for purchase of Electric Dump Trucks to be used by our Company and investment in APGM, our Material Subsidiary, by way of a loan, for purchase of Electric Dump Trucks. | 257.55 |
| Capital expenditure for integration of solar energy at certain Mines of our Company. | 32.56 |
| Pre-payment/re-payment of, in part or full, certain outstanding borrowings of our Company and investment in APGM, by way of a loan, for pre-payment/ re-payment of, in part or full, certain outstanding borrowings of APGM. | 562.23 |
| General corporate purposes. |
IPO Details, Price, Market Lot
| IPO Details | |
| IPO Open Date | 15 October 2025 |
| IPO Close Date | 17 October 2025 |
| IPO Issue Size | 42,34,740 Shares (Aggregating up to ₹451.00 Cr) |
| Fresh Issue | 23,47,417 Shares (Aggregating up to ₹250.00 Cr) |
| Offer for Sale | 18,87,323 shares (Aggregating up to ₹201.00 Cr) |
| Retail Portion | Not less than 35.00% of the net offer |
| NII Portion | Not less than 15.00% of the net offer |
| QIB Portion | Not more than 50.00% of the net offer |
| Listing At | NSE, BSE |
| IPO Price | |
| Face Value | ₹5 Per share |
| IPO Price Band | ₹1014 to ₹1065 Per share |
| Employee Discount | ₹101.00 |
| IPO Issue Type | Book Built Issue |
| Time Table (Tentative) | |
| IPO Open Date | 15 October 2025 |
| IPO Close Date | 17 October 2025 |
| Basis of Allotment Date | 20 October 2025 |
| Initiation of Refunds | 23 October 2025 |
| Credit of Share to Demat Account | 23 October 2025 |
| IPO Listing Date | 24 October 2025 |
| Company Promotor & Promotor’s Holding | |
| Mr Kollareddy Ramachandra, Mrs Kukreti Soumya, Mrs Uma Priyadarshini Kollareddy and Mr Kollareddy Rama Raghava Reddy are the promoters of the company. | |
| Pre Issue Promotor Holding | 95.83% |
| Post Issue Promotor Holding | 84.39% |
| Company’s Contact & Address | |
|
Midwest Limited Website: https://www.midwest.in/ |
|
| IPO Registrar, Lead Manager, Prospectus | |
| IPO Prospectus | |
| IPO Registrar | |
| Kfin Technologies | |
| IPO Lead Manager | |
|
|
Midwest IPO Lot Size
| Number of Shares Per Lot = 14 Shares | |||
| Application | Lot(s) | Shares | Amount |
| Retail (Minimum) | 1 | 14 | ₹14,910 |
| Retail (Maximum) | 13 | 182 | ₹1,93,830 |
| S-HNI (Minimum) | 14 | 196 | ₹2,08,740 |
| S-HNI (Maximum) | 67 | 938 | ₹9,98,970 |
| B-HNI (Minimum) | 68 | 952 | ₹10,13,880 |
| Number of Shares Per Lot = 14 Shares | |||
| Application | Lot(s) | Shares | Amount |
| Retail (Min) | 1 | 14 | ₹14,910 |
| Retail (Max) | 13 | 182 | ₹1,93,830 |
| S-HNI (Min) | 14 | 196 | ₹2,08,740 |
| S-HNI (Max) | 67 | 938 | ₹9,98,970 |
| B-HNI (Min) | 68 | 952 | ₹10,13,880 |
Financial Report (Restated Consolidated)
| Period Ended | Assets (₹ in Crore) |
Revenue (₹ in Crore) |
P A T (₹ in Crore) |
Net Worth (₹ in Crore) |
Borrowings (₹ in Crore) |
| 30 June 2025 | 1,082.81 | 146.47 | 24.38 | 577.03 | 270.11 |
| 31 March 2025 | 1,058.70 | 643.14 | 133.30 | 553.69 | 236.61 |
| 31 March 2024 | 757.12 | 603.33 | 100.32 | 421.93 | 120.48 |
| 31 March 2023 | 656.00 | 522.23 | 54.44 | 334.92 | 149.08 |
| Period Ended | 30 June 2025 | 31 March 2025 | 31 March 2024 | 31 March 2023 |
| Assets | 1,082.81 | 1,058.70 | 757.12 | 656.00 |
| Revenue | 146.47 | 643.14 | 603.33 | 522.23 |
| P A T | 24.38 | 133.30 | 100.32 | 54.44 |
| Net Worth | 577.03 | 553.69 | 421.93 | 334.92 |
| Borrowings | 270.11 | 236.61 | 120.48 | 149.08 |
| Amount in ₹ Corre | ||||