Midwest Limited’s shares made a robust entrance on the NSE and BSE today, October 24. They opened at ₹1,165 each, reflecting a 9.4% increase from the issue price of ₹1,065. As of 11:25 AM, the shares were trading at ₹1,152.90, marking an 8.25% rise. The stock price fluctuated between ₹1,137 and ₹1,190. Founded in 1981 and headquartered in Hyderabad, Midwest Limited is the largest producer of Black Galaxy Granite in India. In FY25, the company reported revenues of ₹6,261.82 million and a profit of ₹1,332.99 million, with an EBITDA margin of 25.76% and a debt-to-equity ratio of 0.43. Prior to the IPO, Midwest Limited secured ₹134.99 crore from anchor investors, selling 12,67,605 shares at ₹1,065.
Notable investors included Goldman Sachs India, Axis MF, Kotak MF, Invesco India, and Edelweiss. The IPO was oversubscribed by 87.89 times, with QIBs subscribed 139.87 times, non-institutional investors 168.07 times, retail investors 24.26 times, and employees 24.44 times.