Midwest IPO
Midwest IPO
Midwest Ltd. is a four-decade-old natural stone industry specialist, India’s largest producer and exporter of Black Galaxy Granite (holding around 64% of India’s export market share in FY25) and also the largest producer of Absolute Black Granite. The company's core business involves exploration, mining, processing, and export of these premium dimensional stones from its 16 captive granite mines across Telangana and Andhra Pradesh. Additionally, it manufactures **Diamond Wire** cutting tools and, as of September 2025, has commenced operations at its new **Quartz Processing Plant** for diversification. Midwest operates across the entire value chain from mine to distribution, serving 17 countries globally, including China, Italy, and Sweden.
Investment Timeline
🤖 Smart Analysis
*AI score is algorithmic and for educational purposes only.
🎯 Application Strategy
Action: ⚠️ NEUTRAL - Mixed signals, proceed with caution
Lots: Single lot only for diversification
⏳ Timing Advice
🔥 Apply on DAY 1 - Very high demand expected, early application crucial
Key Factor Analysis
Issue Details
Object of the Issue
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Funding capital expenditure by Midwest Neostone, the wholly owned subsidiary, towards the Phase II Quartz Processing Plant (₹127.05 Cr).
- Capital expenditure for purchase of Electric Dump Trucks to be used by the Company and APGM, our Material Subsidiary (₹25.76 Cr).
- Capital expenditure for integration of solar energy at certain Mines of the Company (₹3.26 Cr).
- Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company and APGM (₹53.8 Cr).
- General corporate purposes.
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