Midwest IPO
Midwest IPO — date, price band, GMP & allotment 2025
**Midwest Limited IPO** is a SME IPO on NSE platform. The company is engaged in trading and distribution business (as per available information). The IPO aims to raise funds for working capital requirements and general corporate purposes. Investors should look at company financials, profit growth, and valuation before applying. As it is an SME IPO, risk is slightly higher, so investment should be taken carefully after proper analysis.
Stock price
Midwest is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 16 September.
- Open 15 Oct 2025
- Close 17 Oct 2025
- Allotment 20 Oct 2025
- Refund/credit 23 Oct 2025
- Listing 24 Oct 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 15 to 17 Oct, 2025 |
|---|---|
| Price Band | ₹1014 – ₹1065 |
| Face Value | ₹10 |
| Lot Size | 14 Shares |
| Issue Size | ₹1065 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 101.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,910 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 14 shares at the ₹1065 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 14 | ₹14,910 |
| Retail (max) | 13 | 182 | ₹1,93,830 |
| S-HNI (min) | 14 | 196 | ₹2,08,740 |
| S-HNI (max) | 67 | 938 | ₹9,98,970 |
| B-HNI (min) | 68 | 952 | ₹10,13,880 |
Three years of numbers
All figures in ₹ crore, as reported in the Midwest offer document.
| Metric | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue | 146.47 | 643.14 | 603.33 |
| OPM % | 27.4 | ||
| EBITDA | 38.97 | 171.78 | 151.44 |
| Net Profit | 24.38 | 133.30 | 100.32 |
| Debt | 270.11 | 236.61 | 120.48 |
| Assets | 1,082.81 | 1,058.70 | 757.12 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Midwest RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Midwest IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹39.42 |
| P/E Ratio (x) | 27.01 |
| Market Cap at Offer Price (₹ Cr) | ₹658.67 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹1065 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹224.62 Cr of the issue is earmarked to named objects.
About the company
The company was promoted by experienced entrepreneurs with domain expertise in mining and stone processing, enabling it to develop an integrated business model. Midwest sources raw granite blocks from its own quarries as well as external suppliers and processes them into finished products for export. Its business model is largely export-driven, focusing on bulk orders and long-term client relationships, ensuring steady revenue streams while maintaining quality and timely delivery standards.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
04067162222, 04079611000
The bankers & the filings
Who is running the book, and the documents this page is built from.
Midwest IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Motilal Oswal Investment Advisors
21 issues handledBest listing: Kusumgar (+37.0%). Weakest: Turtlemint Fintech Solutions (-10.4%).
Dam Capital Advisors Ltd
8 issues handledBest listing: ESDS Software Solution (+76.5%). Weakest: Prasol Chemicals (-9.8%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Midwest?
The current Grey Market Premium is ₹0.
What is the Midwest IPO price band?
₹1014 to ₹1065, on a face value of ₹10.
When is the allotment?
The basis of allotment is 20 October 2025, with listing on 24 October 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
