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Issue Open Date
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15-Oct-25
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Issue Closing Date
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17-Oct-25
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Application Money
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100
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Allotment Money
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Price Band
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1014
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1065
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Minimium Application No.
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14
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Issue Size (Shares)
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3117460
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Market Lot
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1
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Objective
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Our Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:1. Investment in Midwest Neostone Private Limited (“Midwest Neostone”), our wholly owned subsidiary, by way of a loan, towards funding capital expenditure for Phase II of the quartz grit and powder processing plant (the “Phase II Quartz Processing Plant”);2. Capital expenditure for purchase of electric dump trucks (“Electric Dump Trucks”) to be used by our Company and investment in Andhra Pradesh Granite (Midwest) Private Limited (“APGM”), our Material Subsidiary, by way of a loan, for purchase of Electric Dump Trucks;3. Capital expenditure for integration of solar energy at certain Mines of our Company;4. Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company and investment in APGM, by way of a loan, for pre-payment/ re-payment of, in part or full, certain outstanding borrowings of APGM; and5. General corporate purposes.
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Category
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No. of Shares
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No. of Shares
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Subscription Ratio
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Offered / Reserved |
Bid For |
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Non-Institutional Investors
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665681
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111884290
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168.074933789608
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Qualified Institutional Buyers
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887572
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124148388
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139.874160068141
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Retail Individual Investors
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1553255
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37683548
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24.2610183131553
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Business Description
We have a legacy of more than four decades in the dimensional natural stone (i.e., naturally occurring stones) industry with experience in exploration, development and operation of mines, stone processing and fabrication, sales, distribution and marketing of various types of natural stone. We are engaged in the business of exploration, mining, processing, marketing, distribution and export of natural stones, with an emphasis on sustainability. We are India’s largest producer and exporter of Black Galaxy Granite (a variety of Granite which is sparkling with flakes of a golden hue), and held a share of approximately 23% of the Indian export market for Black Galaxy Granite in Fiscal 2024 (Source: CRISIL Report), exporting 48,249 cubic meters of Black Galaxy Granite during Fiscal 2024.
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Promoter's Holding
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Total Share Capital
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29777863
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Offered to Public
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3117460
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Promoter's Holding (Pre-Issue)
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88.07
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Promoter's Holding (Post-Issue)
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77.13
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Address |
8-2-684/3/25 & 26
Road No.12
Banjara Hills
Hyderabad,
Telangana,
500034
Phone : 040 2330 5194
Email : cs@midwest.in
Website : www.midwest.in
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Registrar |
K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.)
Karvy Selenium Tower B
Plot 31-32
Gachibowli
Financial District
Nanakramguda
Hyderabad
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Listed at |
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BSE, NSE
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Lead Manager |
Dam Capital Advisors Ltd. (Formerly IDFC Securities Ltd.)
Intensive Fiscal Services Pvt Ltd
Motilal Oswal Investment Advisors Pvt Ltd
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Promoters |
Kollareddy Rama Raghava Reddy
Kollareddy Ramachandra
Kukreti Soumya
Uma Priyadarshini Kollareddy
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