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Midwest IPO Review

Midwest IPO has been reviewed by 8 analysts, and the overall consensus is Apply — carrying a score of 79. Out of the 8 analysts who have covered this IPO, 5 recommend subscribing while 3 advise caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹1014 -1065 per share, with a minimum application size of 14 shares (minimum investment of approximately ₹14,910 at the upper band). Subscription ran from 15 Oct 2025 to 17 Oct 2025. The issue size is ₹1,065 crore, a mix of fresh issue and offer for sale. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
79/ 100
Apply 5 of 8 recommend subscribing
How analysts voted
Apply 5
May apply 1
Neutral 1
Avoid 1

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Midwest operates in granite and natural stone with related energy initiatives. FY25 revenue was ₹643.14 crore with EBITDA of ₹171.78 crore, an operating margin above 27 percent in the June 2025 quarter. Five of the seven analysts covering it said subscribe, one stayed neutral and one said avoid.

Listing gains

The notes value the issue between about 27.0 and 30 times earnings at the ₹1,065 upper band, with EV to EBITDA near 22.4 times on post-issue capital. Analysts consider that fair for the margins on offer rather than cheap, which pointed to a moderate listing.

Short-term strategy

The June 2025 quarter produced ₹38.97 crore of EBITDA on ₹146.47 crore of revenue at a 27.4 percent margin, broadly in line with FY25. Fresh money funds expansion projects. Natural stone demand is tied to construction activity, which is the main near-term swing factor.

Long-term strategy

The positive notes rest on strong revenue, EBITDA and profit CAGRs alongside expansion projects and energy initiatives that diversify the business. Margins above 27 percent are unusual for a materials business, so the long-term case depends on those margins holding as capacity grows.

How this is written: an AI-assisted summary of the 8 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Midwest IPO?

The analyst consensus for Midwest IPO tracked on this page is Apply, with a score of 79/100. Out of 8 analysts who have reviewed this IPO, 5 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 79 mean for Midwest IPO?

The score of 79 is an aggregate of all analyst ratings tracked for Midwest IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What are the listing gain expectations for Midwest IPO?

The notes value the issue between about 27.0 and 30 times earnings at the ₹1,065 upper band, with EV to EBITDA near 22.4 times on post-issue capital. Analysts consider that fair for the margins on offer rather than cheap, which pointed to a moderate listing. Live GMP →

What is the price band and lot size of Midwest IPO?

Midwest IPO was priced at ₹1014 -1065 per share. The minimum lot size is 14 shares, making the minimum investment approximately ₹14,910 at the upper end of the price band. Subscription ran from 15 Oct 2025 to 17 Oct 2025.

Explore Midwest IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Midwest IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Apply
Score
79 / 100
GMP
₹0
Full IPO details