How to Check Midwest IPO Allotment Status?

Midwest Limited is engaged in the business of exploration, mining, processing, marketing, distribution, and export of natural stones. The company was incorporated in 1981. It is a producer and exporter of Black Galaxy Granite, a unique granite variety known for its sparkling golden flakes.

Midwest Limited operates 16 granite mines across 6 locations in Telangana and Andhra Pradesh, producing a wide range of granite varieties including Black Galaxy, Absolute Black, and Tan Brown. The company has one granite processing facility in each of the states of Telangana and Andhra Pradesh, enabling large-scale processing and finishing of granite products. In addition to the operational mines, Midwest Limited has built a strong resource base comprising 25 locations across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu for future mining operations.

The company has established a strong global presence, exporting its products to 17 countries across five continents, with China, Italy, and Thailand being the primary export markets. As of June 30, 2025, Midwest Limited employed a total of 1,326 personnel.

The Midwest IPO came with a total issue size of ₹451.00 crore, comprising a fresh issue of ₹250.00 crore and an offer for sale of ₹201.00 crore. The IPO opened on October 15, 2025, and closed on October 17, 2025. The allotment is expected on Monday, October 20, 2025. The share price band was set at ₹1,014 to ₹1,065 per share.

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Steps to Check Midwest IPO Allotment Status on Registrar Site

• Visit the Kfin Technologies Ltd. website  
• Select "Midwest" from the dropdown menu on the allotment status page
• Enter your PAN ID, Demat Account Number, or Application Number in the designated field
• Complete the captcha verification process and click on the "Submit" button to view your allotment status

Steps to Check Midwest IPO Allotment Status on BSE

• Navigate to the BSE IPO Allotment Status Page
• Select the issue type: equity/debt
• Choose "Midwest" from the list of active IPOs in the dropdown menu
• Input your Application Number and PAN ID in the required fields
• Verify the captcha and click "Search" to check your allotment status

Midwest IPO Subscription Status

Midwest IPO received exceptional investor interest, being subscribed 92.36 times overall. Here is the category-wise breakdown as of 5:04:35 PM on October 17, 2025:

• QIB Category (Ex Anchor): 146.99 times
• Non-Institutional Investors (NII): 176.57 times
• Retail Investors: 25.52 times
• Employees: 25.80 times

Midwest IPO Share Price and Investment Details

The minimum investment required was ₹14,910 for 1 lot (14 shares). The issue raised ₹135.00 crore from anchor investors and included 10,373 shares for employees at a discount of ₹101.00. Given the exceptional subscription of 92.36 times with extraordinary institutional interest at 146.99 times, exceptional NII participation at 176.57 times, and very strong retail subscription at 25.52 times, the share price is expected to list with strong premium.

Utilisation of IPO Proceeds

The proceeds will be utilized for funding capital expenditure by Midwest Neostone for Phase II Quartz Processing Plant (₹127.05 crore), capital expenditure for purchase of Electric Dump Trucks (₹25.76 crore), capital expenditure for integration of solar energy (₹3.26 crore), pre-payment/re-payment of borrowings (₹53.80 crore), and general corporate purposes.

Business Overview

Midwest Limited is the largest Indian company producing Absolute Black Granite and Black Galaxy Granite, with around 70% export earnings. It enjoys 16 granite mining rights in 6 locations across various states of India. The company has a virtual monopoly in the segment of its business.

The company demonstrated strong financial performance with 7% revenue increase and 33% PAT rise between FY24-FY25. It maintains healthy financial metrics with a 19.42% ROE and a moderate debt-equity ratio of 0.43. The company marked steady growth in its top and bottom lines.

The company benefits from a unique positioning in the Black Galaxy Granite segment, strong export presence across 17 countries, extensive mining rights, and an established global customer base. However, investors should note the aggressive pricing reflected in a very high post-issue P/E ratio of 39.49 and Price to Book Value of 6.50.