Midwest IPO GMP Trades Flat Ahead of Opening: Check Price Band, Key Dates And Other Details
Midwest IPO is a book-built issue of Rs 451 crore. It includes a fresh issue of 0.23 crore shares worth Rs 250 crore and an offer for sale of 0.19 crore shares worth Rs 201 crore.

Midwest Ltd. is set to launch its initial public offering (IPO) on Wednesday, Oct. 15. The Hyderabad-based natural stone company was founded in 1981. With the subscription date approaching, here’s a look at the grey market premium (GMP) and other key details of Midwest Ltd. IPO.
Midwest IPO GMP Today
According to Investorgain, Midwest IPO's last GMP is Rs 0 as of 10:00 a.m on Oct. 14. With a price band cap of Rs 1,065, the IPO’s estimated listing price remains Rs 1,065. As of now, no expected gain or loss per share on listing is anticipated, trends indicated.
Note: GMP does not represent official data and is based on speculation.
Midwest IPO Details
Midwest Ltd. IPO is a book-built issue of Rs 451 crore. It includes a fresh issue of 0.23 crore shares worth Rs 250 crore and an offer for sale of 0.19 crore shares worth Rs 201 crore.
The IPO price band is set at Rs 1,014 to Rs 1,065 per share. The lot size is 14 shares. For retail investors, the minimum investment is Rs 14,910 at the upper price band.
For small non-institutional investors (sNII), the minimum application is 14 lots (196 shares), requiring Rs 2,08,740. For big non-institutional investors (bNII), it is 68 lots (952 shares), amounting to Rs 10,13,880.
Dam Capital Advisors Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar for this issue.
Midwest IPO opens for subscription on Oct.15 and closes on Oct. 17. The allotment is expected on Oct. 20, with listing scheduled on BSE and NSE. The tentative listing date for this IPO is Oct. 24.
Midwest Ltd. Financials
Founded in 1981 and based in Hyderabad, Midwest is a leading natural stone company. It specialises in mining, processing, and exporting premium granites and quartz materials. Midwest is India’s largest producer and exporter of Black Galaxy Granite.
Midwest Ltd. plans to use the IPO proceeds for capital expenditure, including expansion of its quartz processing plant and purchase of electric dump trucks, among others. A portion of the proceeds will be used to repay borrowings. The remaining funds are meant for general corporate purposes.
For the year ending March 31, Midwest Ltd. reported a total income of Rs 643.14 crore, up from Rs 603.33 crore in the previous year. Profit After Tax (PAT) rose to Rs 133.30 crore compared to Rs 100.32 crore in FY24. Ebitda also increased, reaching Rs 171.78 crore from Rs 151.44 crore the year before.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.