Midwest Ltd IPO to Open on October 15 and to raise ₹451 crore through its IPO. The company will use part of the funds to expand its business by setting up a new quartz plant, purchasing electric dump trucks, and installing solar energy systems at its mining sites.
Midwest Ltd IPO Subscription from October 15 to 17; Listing on October 24
Midwest Ltd IPO to Open on October 15 — ₹451 Crore Public Offer Details & Listing Date: ACORDING TO SOURCES
Quartz processor Midwest Ltd will open its Initial Public Offering (IPO) on October 15. The company announced on Saturday that the price band for the upcoming IPO has been set between ₹1,014 and ₹1,065 per share.
The IPO aims to raise ₹451 crore in total. The subscription period will run from October 15 to October 17, while the anchor book will open on October 14. The company has proposed to list its shares on October 24.
Midwest Ltd IPO to Open on October 15 — ₹451 Crore Public Offer Details & Listing Date: Fresh Issue Breakdown
Midwest Ltd IPO to Open on October 15 — ₹451 Crore Public Offer Details & Listing Date:
The IPO consists of a ₹250 crore fresh issue and a ₹201 crore offer for sale. From the fresh issue, ₹130.3 crore will be used for phase two expansion of Midwest Neostone’s quartz facility, a subsidiary of Midwest Ltd. ₹25.7 crore will go toward purchasing electric dump trucks, and ₹3.2 crore will be used for solar energy integration at selected mines.
Additionally, ₹56.2 crore will be allocated to repay debt, while the remaining funds are earmarked for general corporate purposes. As of June 2025, the company’s consolidated outstanding debt was ₹270.1 crore.
Midwest Ltd: From India’s Top Granite Producer to Quartz Processing and Rare Earth Mineral Expansion
Midwest Ltd: India’s Leading Granite and Quartz Producer Expands Into Heavy Minerals
Midwest Ltd is India’s largest producer of Black Galaxy and Absolute Black granite. With nearly 40 years of experience in the natural stone business, the company has now expanded into quartz processing. Its phase one plant supplies engineered stone and solar glass segments.
The company is also entering heavy mineral sand exploration, extracting minerals like rutile and ilmenite used for titanium feedstock, and will start processing rare earth elements (REEs) as well.
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