Midwest Limited is opening its IPO next week. The company has announced that the IPO will be open from October 15th to December 17th, with a total size of ₹451 crore. For anchor investors, the IPO will open a day earlier on October 14th.
Price Band and Lot Size
The IPO price band for Midwest Limited is ₹1,014 to ₹1,065 per share. Investors will need to buy a minimum of 14 shares, which means the minimum investment amount is ₹14,910.
Through this IPO, the company will:
Issue fresh shares worth ₹250 crore
Offer shares for sale worth ₹201 crore
The funds from the fresh shares will be used as follows:
₹130.30 crore for Phase II expansion
₹25.70 crore for a subsidiary
₹3.2 crore for solar energy projects
IPO Allocation and Company Overview
The IPO shares will be allocated as follows:
50% for qualified institutional buyers (QIBs)
35% for retail investors
15% for non-institutional investors (NIIs)
Midwest Limited operates 16 granite mines in Telangana and Andhra Pradesh. The company has shown strong growth:
CAGR from FY2023 to FY2025: 11.63%
EBITDA growth: 38.47%
PAT growth: 40.53%
For FY2025:
Net profit: ₹133.30 crore (33% increase)
Revenue: ₹626.20 crore
