Midwest IPO is a forthcoming mainboard issue opening from October 15 to 17, 2025, with a price band of ₹1,014 to ₹1,065 per share and a total issue size of ₹451 crore. Midwest Limited is recognized as India’s largest processor of Black Galaxy and Absolute Black granite, alongside significant operations in engineered stone and quartz for solar glass and construction sectors. Midwest IPO offers investors a route into a sector with strong infrastructure and export demand, backed by established expertise and growth-focused capital allocation.
₹170
₹1065
₹
Expert Opinions
Market sentiment for Midwest IPO is largely positive, driven by the company’s leading position in the granite and quartz processing industry and strong financial track record. Midwest Limited stands out with its dominance in Black Galaxy and Absolute Black granite production, coupled with diversification into engineered stones for solar and construction sectors. The company’s strengths include robust operational efficiency, steady revenue growth, and strategic capital expenditure plans. Risks for investors include sector cyclicality, exposure to global demand fluctuations, and raw material price volatility.
Valuation analysis for Financial Year 2025 shows Midwest IPO with a Return on Equity (ROE) of 19.42%, Return on Capital Employed (ROCE) of 18.84%, and a Net Asset Value (NAV) of ₹163.75, indicating solid financial health. Long-term investment prospects appear promising due to capacity expansion, sustainable technologies, and established market presence, making the IPO attractive for investors seeking steady returns in the specialty stone sector.
Investor Considerations
Investors considering Midwest IPO should recognize the company’s strong fundamentals and consistent performance, marked by a 7% revenue increase and a 33% rise in profit after tax in FY 2025. The sector outlook remains favorable with growing demand for premium natural stones in construction and exports. Midwest IPO valuation for FY 2025 reflects a Price to Book Value of 6.50, a healthy PAT margin of 17.17%, and a comfortable debt-to-equity ratio of 0.43, signaling financial stability.
Growth prospects are promising due to capacity expansions in granite and quartz processing, new mining projects, and solar integration initiatives. Key risks involve market cyclicality, raw material price fluctuations, and regulatory changes. The IPO suits both short-term investors seeking listing gains and long-term investors eyeing sustained growth in a niche natural stone market segment.
| Date | GMP | Trend |
|---|---|---|
| 15 Oct 2025 15.41 | ₹170 | Up |
| 14 Oct 2025 17.51 | ₹75 | Up |
| 13 Oct 2025 11.21 | ₹00 | --- |
| 12 Oct 2025 17.30 | ₹00 | --- |
| 11 Oct 2025 11.16 | ₹00 | --- |
| 10 Oct 2025 12.33 | ₹00 | --- |
FAQs
Midwest IPO Current GMP is ₹170.
Midwest IPO Expected Returns is 15.96%.
Midwest IPO estimated listing price is ₹1235.