How to Apply Midwest IPO 2025 Online: Dates, Price Band, Lot Size, Allotment, and Review

The Midwest IPO 2025 is grabbing attention among Indian investors for its compelling price band, impressive growth story, and global reach. If you’re wondering whether to subscribe, how much to invest, what Midwest does, and how this public offering compares to rivals, this blog—crafted with all key Midwest IPO details, dates, and performance metrics—will help guide your investment decision.

Midwest IPO 2025: Price Band & Key Dates

Midwest Limited’s IPO price band is set at ₹1,014 to ₹1,065 per equity share (face value ₹5), marking it as one of the standout IPOs this October.The Midwest IPO subscription window opens on October 15 and closes October 17, 2025.Allocation for anchor investors takes place October 14, with a tentative BSE/NSE listing date on October 24.

Midwest IPO Issue Details

Total Issue Size: ₹451 crore (Fresh issue of ₹250 crore + Offer for Sale of ₹201 crore)
Shares to be Issued: 42,34,740 shares
IPO Lot Size: Minimum 14 shares (₹14,910 based on the upper price band)
Employee Discount: ₹101 per share
Registrar: Kfin Technologies Ltd.
Lead Managers: DAM Capital Advisors, Intensive Fiscal Services, Motilal Oswal Investment Advisors

Midwest IPO Reservation Breakdown

Investor Category	Allotted Shares Proportion	Eligibility & Limits
QIB	Not more than 50% of the net offer	Institutional, as per SEBI guidelines
Retail	Not less than 35% of the net offer	Up to ₹2 lakh application
NII (Non-Institutional)	Not less than 15% of the net offer	sNII: ₹2L–₹10L, bNII: Above ₹10L
Employee	Up to ₹1 crore worth of shares reserved	Up to ₹5 lakh application, special discount

Midwest IPO Timeline

Event	Date
IPO Opens	Oct 15, 2025
IPO Closes	Oct 17, 2025
Basis of Allotment	Oct 20, 2025
Refunds Initiation	Oct 23, 2025
Shares Credited to Demat	Oct 23, 2025
Listing Date	Oct 24, 2025

Midwest Ltd. Business Profile & Expansion

Midwest specializes in the exploration, mining, processing, and export of natural stones—primarily premium granite varieties including Black Galaxy, Absolute Black, and Tan Brown.The company operates 16 mines across Telangana and Andhra Pradesh, and has processing facilities in both states.Midwest is India’s largest manufacturer of Absolute Black Granite, producing 10.8% of India’s output in this sought-after category for FY2024.

Midwest’s exports reach 17 countries, with major clients in China, Italy, Sweden, and Thailand.The company has showcased its granite in prominent international projects such as Shanghai’s CSSC Power (Group) Tower and Shenyang MaoYe Center.

Expansion Highlights

Phase I quartz processing for engineered stone and solar glass sectors Entering heavy mineral sands extraction (including rare earth elements)

Phase II: Investment in quartz processing, electric dump trucks, and solar integration

Midwest IPO Financials: Growth Story

Midwest boasts robust financial growth, with revenue up 7% and PAT (Profit After Tax) up 33% year-on-year (FY 2024 to FY 2025).

Financials (₹ crore)	FY2023	FY2024	FY2025	Q1 FY2026 (Jun)
Total Income	522.23	603.33	643.14	146.47
Profit After Tax	54.44	100.32	133.30	24.38
EBITDA	89.59	151.44	171.78	38.97
Net Worth	334.92	421.93	553.69	577.03
Total Borrowing	149.08	120.48	236.61	270.11

Key Performance Ratios (FY2025):

ROE: 19.42%
ROCE: 18.84%
Debt/Equity: 0.43
RoNW: 22.11%
PAT Margin: 17.17%
EBITDA Margin: 27.43%
Price to Book Value: 6.50
Market Capitalization: ₹3,851 crore

Midwest IPO Objectives: Where Will the Money Go?

Expand Phase II Quartz Processing Plant at subsidiary Midwest Neostone (₹127 crore)
Buy electric dump trucks for subsidiaries (₹25 crore)
Solar energy integration at mines (₹3 crore)
Repay/pre-pay borrowings at Midwest and APGM (₹53 crore)
General corporate purposes

Midwest Ltd.: Investor Takeaways

Midwest’s blend of granite mining, quartz, and rare earth expansion makes it a diversified player in the mining sector.
Robust growth in profits, margins, and export success signal healthy fundamentals.
IPO price band and reservation structure offer accessibility to both retail and institutional investors.
The company’s only listed peer has similar valuation multiples, but Midwest’s global reach and product mix are key differentiators.

Midwest IPO Subscription Guide

To subscribe, investors need to:

Choose a minimum lot size of 14 shares (₹14,910 at the upper price band)
Apply through IPO Ji, confirm UPI mandates by 5 PM on October 17, 2025
Await allotment status on October 20, 2025; refunds and demat credits on October 23, 2025; listing on October 24, 2025

For actionable updates, visit Midwest’s IPO homepage or check through the IPO registrar Kfin Technologies.

How to apply for a Midwest IPO?

To apply for the Midwest IPO through IPO Ji, use either the IPO Ji app or website for a simple and secure process. You’ll need an active Demat account, PAN card, UPI ID, and sufficient bank funds.

Step-by-Step Midwest IPO Application on IPO Ji

Log in to your IPO Ji account using the app or website.
Go to the “Apply IPO” section and find Midwest Limited IPO in the ongoing IPOs list.
Press the “Apply” button to start your application for the Midwest IPO.
Select your Demat account, enter your PAN and UPI ID (only once if registered).
Choose the bid quantity in lots (minimum 1 lot = 14 shares; price automatically set at cut-off).
Submit your order and approve the UPI mandate request in your UPI app (Google Pay, PhonePe, Paytm, etc.). Your funds will be securely blocked but not debited.
Track your application, subscription data, and allotment status directly from IPO Ji.

Apply Midwest IPO

Applying for Midwest IPO usually takes less than 3 minutes from start to finish. You’ll be notified about allotment and share credit dates in the IPO Ji app or website.

Midwest IPO 2025: Frequently Asked Questions

1. What are the IPO dates for Midwest Limited?

The Midwest IPO opens on October 15, 2025, and closes on October 17, 2025.

2. What is the price band and lot size for Midwest IPO?

The price band is ₹1,014 to ₹1,065 per equity share. The minimum lot size for application is 14 shares, requiring an investment of ₹14,910 at the upper band.

3. Where will Midwest Limited IPO be listed?

Midwest Limited IPO will be listed on both BSE and NSE, with a tentative listing date of October 24, 2025.

4. How can investors apply for Midwest IPO?

Investors can apply online using UPI through ASBA-compliant net banking, stock broker platforms, or dedicated IPO apps like IPO Ji.

5. What is the reservation quota for retail, HNI, and QIB investors?

35% is reserved for retail, 15% for Non-Institutional Investors (HNI), and not more than 50% for Qualified Institutional Buyers (QIB).

6. Who are the promoters of Midwest Limited?

The promoters are Kollareddy Rama Raghava Reddy, Kollareddy Ramachandra, Kukreti Soumya, and Uma Priyadarshini Kollareddy.

7. What is the timetable for Midwest IPO allotment, refunds, and share credit?

Basis of allotment: October 20, 2025
Refund initiation: October 23, 2025
Credit to demat accounts: October 23, 2025
Listing date: October 24, 2025

8. What is the fresh issue and offer-for-sale breakdown?

₹250 crore will be raised via fresh issue, and ₹201 crore via offer-for-sale from promoters.

9. What is the main business of Midwest Limited?

Midwest Limited is engaged in the exploration, mining, processing, and export of natural stones, with leading market share in Black Galaxy and Absolute Black granite.

10. How can investors check the IPO allotment status?

Investors can check allotment on the IPO registrar’s website (Kfin Technologies), or through BSE/NSE and IPO Ji application platforms after allotment.