Recently Listed Stock-Midwest Ltd Jumps Over 5% on October 30; Do you have it?

While the broader Indian market was in the red, with both the Sensex and Nifty down 0.60 per cent each. The shares of Midwest Ltd jumped 5 per cent to Rs 1,145 per share from its previous closing of Rs 1,090.25 per share. The company has a market cap of over Rs 4,000 crore and the stock is up by 9.6 per cent from its 52-week low of Rs 1,048.65 per share.

Also Read DSIJ Blog: Understanding Data Centres: Global Trends and Top 5 Indian Players!

Midwest Limited’s IPO was launched in the price band of Rs 1,014 – Rs 1,065 per share, which closed on October 17, 2025, with a listing on both the NSE and BSE. The company, an integrated natural-stone producer, had operations spanning exploration, mining, processing and export of granite, quartz grit and powder. It supplied to over 30 countries and was in the process of diversifying into heavy mineral sands and rare earth processing, backed by subsidiaries such as Midwest Granites, Midwest Neostone and Midwest Neominerals.

The IPO, sized at Rs 451 crore (Rs 250 crore fresh issue and Rs 201 crore offer for sale), aimed to fund expansion projects, including Rs 130.30 crore for the Phase-II quartz plant expansion under Midwest Neostone and Rs 25.76 crore for electric dump trucks to modernise the mining operations. Midwest also allocated funds toward Solar PV installations and repayment of borrowings. The company had reported consistent growth, with revenue rising from Rs 502.52 crore in FY23 to Rs 626.18 crore in FY25 and net profit improving from Rs 54.44 crore to Rs 133.30 crore over the same period.

With strong fundamentals, including a FY25 EBITDA margin of 27.43 per cent, Midwest’s outlook hinged on the timely execution of expansion plans, efficient capital management, and sustained demand for granite and quartz in both domestic and export markets.

Disclaimer: The article is for informational purposes only and not investment advice.