Midwest Share Price LIVE: Stock Lists with 9% Premium, Slips Over 1% After Positive Market Debut

Midwest Shares Debut with Strong Listing on BSE and NSE

Shares of Midwest Ltd made a positive debut on the Indian stock exchanges today, Friday, October 24, opening at ₹1,165 per share, a 9.4% premium over the issue price of ₹1,065. The stock was listed simultaneously on both BSE and NSE during the Special Pre-Open Session (SPOS).

However, shortly after listing, the stock slipped over 1%, reflecting mild profit booking by early investors.

Ahead of its debut, the Midwest IPO grey market premium (GMP) stood at ₹115, hinting at a healthy listing above the issue price.

Midwest IPO Details and Subscription Response

The Midwest IPO opened for subscription on October 15 and closed on October 17, 2025. It saw robust demand, with total bids reaching 87.89 times the issue size.

The IPO consisted of:

Fresh issue: ₹250 crore

Offer for sale (OFS): ₹201 crore

Price band: ₹1,014–₹1,065 per share

The IPO allotment was finalized on October 20, 2025.

Company Overview

Headquartered in Telangana, Midwest Ltd operates 16 granite mines across Telangana and Andhra Pradesh. The company is renowned for its production of premium Black Galaxy granite—sourced exclusively from a single village in Andhra Pradesh—and Absolute Black granite, both of which are widely used in global real estate and construction projects.

The company’s lead managers for the IPO were DAM Capital Advisors, Intensive Fiscal Services, and Motilal Oswal Investment Advisors.

Industry Outlook

India’s granite production grew from 17,193 KT in FY22 to 19,709 KT in FY25, led by Rajasthan, Andhra Pradesh, and Telangana. Analysts expect the industry to grow at 6–7% annually, potentially crossing 26,000 KT by FY2030, driven by rising domestic and export demand.

Midwest’s Competitive Edge

High entry barriers and long operational timelines favor established miners.

Strong focus on technological innovation and process efficiency.

Largest exporter of Black Galaxy granite from India, commanding over 60% market share in this niche.

Analyst View: Outlook for Investors

“Midwest’s dominant position in Black Galaxy granite exports and integrated mining-to-processing model provide cost efficiency and scalability,” said Harshal Dasani, Business Head at INVasset PMS.

He added, “The company’s planned diversification into quartz and diamond-wire segments adds growth potential. However, investors should monitor forex exposure, premium granite demand, and margin sustainability post-listing. While the debut is encouraging, long-term performance will depend on execution discipline and expansion strategy.”

Summary

Midwest’s IPO debut delivered a solid start on Dalal Street with a 9% listing gain, though the stock trimmed early gains amid light selling. Strong fundamentals, leadership in the granite export market, and expansion plans position the company as a long-term player in India’s growing natural stone industry.