Midwest Ltd IPO — GMP, Details & Subscription

IPO Details

Open Date

15 Oct 2025

Close Date

17 Oct 2025

Allotment

20 Oct 2025

Listing Date

24 Oct 2025

Exchange

NSE & BSE

Price Band

₹1,065

Listing Price

See chart

Allotment Status

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Price Band

₹1,065

Per share

Face Value

₹5 per share

Lot Size

14 Shares

per lot

Issue Size

42,34,740 shares (aggregating up to ₹451.00 Cr)

Total offering

Issue Type

Bookbuilding IPO

Min Investment

₹14,910

1 lot

Pre-IPO Holding

3,38,12,415 shares

Promoters

Post-IPO Holding

3,61,59,832 shares

Promoters

P/E (Pre)

27.01x

P/E (Post)

39.49x

EPS (Pre)

₹39.42

EPS (Post)

₹26.97

UPI Deadline

2025-10-17

Mandate

GMP

+₹185

+17.37% est.

Anchor AllotmentTue, 14 Oct 2025

Basis of AllotmentMon, 20 Oct 2025

Refund InitiationThu, 23 Oct 2025

Demat CreditThu, 23 Oct 2025

Listing DayFri, 24 Oct 2025

UPI Mandate Deadline2025-10-17

Sale TypeFresh Capital-cum-Offer for Sale

Fresh Issue Shares23,47,417 shares (aggregating up to ₹250.00 Cr)

Offer for Sale18,87,323 shares of ₹5 (aggregating up to ₹201.00 Cr)

QIB Quota50% of Net Issue

HNI / NII Quota15% of Net Issue

Retail Quota35% of Net Issue

Check AllotmentClick here →

Subscription Rate Final

Midwest Ltd IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 17 Oct 2025.

QIB

1.00x

Over

NII/HNI

1.00x

Over

Retail

1.00x

Over

Total

1.00x

Over

Category	Subscription	Shares Offered	% of Total	Amount (₹Cr)
QIB	Over 1.00x	—	—	—
NII / HNI	Over 1.00x	—	—	—
Retail	Over 1.00x	—	—	—
Total	1.00x	—	100%	₹451.00

Lot Size & Investment

Lot Size

Shares per Lot

Issue Price

₹1,065.00

Upper Band

Min Investment

₹14,910

1 Lot

Application	Lots	Shares	Amount
Retail (Min — 2 Lots)	2	28	₹29,820
Retail (Max — 13 Lots)	13	182	₹193,830
S-HNI (Min — 14 Lots)	14	196	₹208,740
B-HNI (Min — 68 Lots)	68	952	₹1,013,880

* Issue Price ₹1,065 × Lot Size 14 shares

IPO Schedule

Anchor

14 Oct 2025

✓ Done

IPO Open

15 Oct 2025

✓ Done

IPO Close

17 Oct 2025

✓ Done

Allotment

20 Oct 2025

✓ Done

Refunds

23 Oct 2025

✓ Done

Demat Credit

23 Oct 2025

✓ Done

Listing Day

24 Oct 2025

✓ Done

₹1,065.00

INR · BSE

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Issue ₹1,065.00 GMP: +₹185 Live Price

About Midwest Ltd

Midwest Ltd is proposing an IPO on NSE & BSE under the Mainboard category. Total issue: 42,34,740 shares (aggregating up to ₹451.00 Cr).

Opens 15 Oct 2025, closes 17 Oct 2025. Listing: 24 Oct 2025. Apply via ASBA or UPI.

Objects of the Issue

Funding capital expenditure by Midwest Neostone, the wholly owned subsidiary, towards the Phase II Quartz Processing Plant.

Capital expenditure for purchase of Electric Dump Trucks to be used by the Company and APGM, our Material Subsidiary

Capital expenditure for integration of solar energy at certain Mines of the Company

Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company and APGM

General corporate purposes.

Midwest Ltd Financials (Amount in ₹ Crore)

Revenue from Operations

₹603.3

31 Mar 2024

₹643.1

31 Mar 2025

₹146.5

30 Jun 2025

Profit After Tax (PAT)

₹100.3

31 Mar 2024

₹133.3

31 Mar 2025

₹24.4

30 Jun 2025

Particulars	30 Jun 2025	31 Mar 2025	31 Mar 2024
Revenue from Operations	146.47	643.14	603.33
EBITDA	38.97	171.78	151.44
Profit After Tax (PAT)	24.38	133.30	100.32
Net Worth	577.03	553.69	421.93
Total Assets	1082.81	1058.70	757.12
Reserves & Surplus	625.60	602.26	484.86
Borrowings	270.11	236.61	120.48
EBITDA Margin (%)	27.43%	—	—
PAT Margin (%)	17.17%	—	—

P/BV Ratio

6.50

RoE

19.42%

RoCE

18.84%

RoNW

22.11%

PAT Margin

17.17%

EBITDA Margin

27.43%

Debt/Equity

0.43

Issue Structure & Shareholding

Total Shares OfferedN/A

Net Offer to PublicN/A

Reserved for Market MakerN/A

Pre-Issue Promoter Holding3,38,12,415 shares

Post-Issue Promoter Holding3,61,59,832 shares

P/BV Ratio6.50

RoE19.42%

RoCE18.84%

Debt / Equity0.43

Script CodeN/A

Registrar & Lead Managers

IPO Registrar

Kfin Technologies Ltd

04067162222, 04079611000

midwest.ipo@kfintech.com

https://ipostatus.kfintech.com/

Check Allotment

Book Running Lead Managers

Dam Capital Advisors Ltd

Intensive Fiscal Services Pvt.Ltd

Motilal Oswal Investment Advisors Ltd

GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.

IPO Subscription FAQs

How much Midwest Ltd IPO subscribed? ▲

Midwest Ltd IPO is subscribed 1.00 times by Oct 17, 2025. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor Category	Subscription
Qualified Institutional (QIB)	1.00x
Non Institutional (NII/HNI)	1.00x
Retail Individual	1.00x
Total Subscription	1.00x

What is Midwest Ltd IPO retail subscription status? ▼

The Midwest Ltd IPO retail category is subscribed 1.00 times as of 17 Oct 2025. The retail portion is oversubscribed.

How to subscribe Midwest Ltd IPO? ▼

Subscribe via your broker app using ASBA or UPI. Opens 15 Oct 2025 and closes 17 Oct 2025. Min investment: ₹14,910 (1 lot = 14 shares). UPI mandate: 2025-10-17.

How many times Midwest Ltd IPO subscribed? ▼

The Midwest Ltd IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check Midwest Ltd IPO allotment? ▼

Check allotment on the registrar website (Kfin Technologies Ltd) at https://ipostatus.kfintech.com/. Enter your PAN, application number or DP/Client ID. Allotment date: 20 Oct 2025. Refunds: on 23 Oct 2025.

When Midwest Ltd IPO will be listed? ▼

The Midwest Ltd IPO listing date is 24 Oct 2025, Friday. Listed on: NSE & BSE. Issue price: ₹1,065. Estimated listing: ₹1,250. GMP: +₹185.

When Midwest Ltd IPO close? ▼

The Midwest Ltd IPO closes on 17 Oct 2025, Friday. UPI mandate: 2025-10-17. Allotment: 20 Oct 2025. Listing: 24 Oct 2025.

Quick Actions

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Live Price LIVE

Last Price₹1,065.00

Change—

Issue Price₹1,065.00

vs Issue—

Quick Summary

StatusListed

Issue Price₹1,065

Face Value₹5

Lot Size14 Sh

Min. Amount₹14,910

GMP+₹185

Est. Listing₹1,250

Subscribed1.00x

Open Date15 Oct 2025

Close Date17 Oct 2025

Allotment20 Oct 2025

Listing Date24 Oct 2025

ExchangeNSE & BSE

UPI Deadline2025-10-17