Midwest, a Telangana-based company specializing in natural stone and quartz processing, is set to launch an IPO aiming to raise ₹451 crore. The IPO will be available for subscription from October 15 to October 17, 2025. The total size of the IPO is ₹451 crore, which includes a fresh issue of ₹250 crore for new shares and an offer for sale (OFS) of ₹201 crore from promoter shares. The price band is set between ₹1,014 and ₹1,065 per share, with a minimum lot size of 14 shares, requiring an initial investment of approximately ₹14,200. Key dates include the allotment date on October 20, 2025, and the listing date on October 24, 2025, on both BSE and NSE.
The lead managers for the IPO are DAM Capital Advisors, Intensive Fiscal Services, and Motilal Oswal, with KFin Technologies serving as the registrar. Funds raised will be allocated for expanding the quartz processing facility (Phase II), purchasing electric dump trucks, installing solar energy systems at mining locations, settling existing debts, and covering general business expenses.
