Midwest IPO opens on October 15 - 5 key things you should know before applying

Midwest IPO: The initial public offering (IPO) of Midwest Limited is set to open this week, on October 15, 2025, for public bidding. The IPO has an issue size of Rs 451 crore and will remain open for subscription till October 17, 2025.

The basis of allotment of the IPO shares is expected to be finalised on October 20, 2025, and the stock is expected to list on both the stock exchanges (BSE and NSE) on October 24, 2025, tentatively.

Through OFS, the company's promoter Kollareddy Rama Raghava Reddy and the promoter group Guntaka Ravindra Reddy will offload shares worth Rs 181 crore and Rs 20 crore, respectively.

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According to the company's red-herring prospectus (RHP), the Dam Capital Advisors Ltd., Intensive Fiscal Services Pvt., and Motilal Oswal Investment Advisors Ltd are the book-running lead managers, while Kfin Technologies Ltd. is the registrar of the issue.

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Midwest IPO details:

The Midwest IPO is a book-building issue which comprises a fresh issue of 2.3 million equity shares worth Rs 250 crore and an offer-for-sale (OFS) of 1.9 million equity shares worth Rs 201 crore.

The IPO has reserved 50 per cent, 35 per cent and 15 per cent of the net offer for the QIB, NII and retail investor categories, respectively.

The minimum amount of investment required by a retail investor is Rs 14,910, indicating a lot size of 14 shares (based on the upper price).

The lot size investment for sNII is 14 lots of 196 shares, amounting to Rs 2,08,740, and for bNII, the lot size is 68 lots of 952 shares, amounting to Rs 10,13,880.

The Midwest IPO anchor investment is scheduled on October 14, 2025, the day before the issue will open for public subscription.

Here are five key points you should know before investing:

Midwest IPO price band: Rs 1,014 to Rs 1,065 apiece ( with a face value of Rs 5 per equity share)

Midwest IPO subscription date: From October 15 to October 17, 2025

Midwest IPO lot size: 14 shares

Midwest IPO allotment date: Tentatively on October 20, 2025

Midwest IPO listing date: Tentatively on October 24, 2025

The company plans to utilise the proceeds from the fresh issue for:

a) Funding phase II quartz processing plant

b) Purchasing electric dump trucks

c) Solar energy integration

d) Debt repayment

e) General corporate purposes

Midwest Limited company profile:

Midwest Limited is a leading company in the granite mining and processing industry, established in 1981 and headquartered in Hyderabad. The company specialises in the exploration, mining, processing, and export of premium granites and quartz-based materials.

Financially, the company's revenue from operations increased to Rs 626.18 crore from Rs 585.62 crore in FY25. The profit-after-tax (PAT) of the company also increased to Rs 133.30 crore from Rs 100.32 crore for the same financial year.