Midwest IPO

Midwest IPO

Midwest Ltd. is a four-decade-old natural stone industry specialist, India’s largest producer and exporter of Black Galaxy Granite (holding around 64% of India’s export market share in FY25) and also the largest producer of Absolute Black Granite. The company's core business involves exploration, mining, processing, and export of these premium dimensional stones from its 16 captive granite mines across Telangana and Andhra Pradesh. Additionally, it manufactures **Diamond Wire** cutting tools and, as of September 2025, has commenced operations at its new **Quartz Processing Plant** for diversification. Midwest operates across the entire value chain from mine to distribution, serving 17 countries globally, including China, Italy, and Sweden.

Issue Price
1065
Current GMP
115 (10.80%)
Overall Subscription
92.36x
Issue Size
₹451.00 Cr
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Live Subscription by Application

CategoryApplications OfferedApplications ReceivedSubscription
QIB8,44,5797860.00x
FII
-56-
DFI
-53-
MF
-16-
Other
-661-
NII3,2332,17,32467.22x
bNII
2,15587,32040.52x
Corporate
-715-
Individual
-82,431-
Other
-4,174-
sNII
1,0781,30,004120.60x
Corporate
-263-
Individual
-1,23,508-
Other
-6,233-
Retail1,05,60921,13,13420.01x
Cut-off price
-17,02,442-
Fixed price
-4,10,692-
Employee74112,69017.13x
Cut-off price
-10,294-
Fixed price
-2,396-
Total9,54,16223,43,9342.46x

Live Subscription by Shares

CategoryShares OfferedShares AppliedSubscription
QIB8.45 L12.41 Cr146.99x
FII
-3.05 Cr-
DFI
-4.89 Cr-
MF
-1.03 Cr-
Other
-3.45 Cr-
NII6.34 L11.19 Cr176.57x
bNII
4.22 L8.52 Cr201.77x
Corporate
-7.30 L-
Individual
-8.05 Cr-
Other
-40.52 L-
sNII
2.11 L2.67 Cr126.17x
Corporate
-57.15K-
Individual
-2.53 Cr-
Other
-12.47 L-
Retail14.79 L3.77 Cr25.49x
Cut-off price
-3.07 Cr-
Fixed price
-69.63 L-
Employee10.37K2.68 L25.81x
Cut-off price
-2.10 L-
Fixed price
-57.85K-
Total29.67 L27.40 Cr92.34x

Subscription Summary

QIB
Shares Applied:146.99x
Applications Offered:0.00x
NII
Shares Applied:176.57x
Applications Offered:67.22x
Retail
Shares Applied:25.49x
Applications Offered:20.01x
Employee
Shares Applied:25.81x
Applications Offered:17.13x

Quick Stats

Total Categories4
IPO TypeMainboard
StatusAllotment Out

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Data Last Updated

20 Oct 2025, 01:26 pm

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Understanding Subscription Categories

QIB

Qualified Institutional Buyers

Includes FII, DFI, Mutual Funds, and other qualified institutions.

NII

Non-Institutional Investors

High net-worth individuals: bNII (₹10L+) and sNII (₹2L-₹10L).

Retail

Retail Individual Investors

Retail investors with applications up to ₹2 lakh per PAN.