Midwest Ltd Share Price

History of Midwest Ltd

Midwest Limited was incorporated on December 11, 1981 as Midwest Granite Private Limited', a Private Limited Company by the Registrar of Companies, Andhra Pradesh at Hyderabad. Subsequently, the name of the Company was changed to Midwest Private Limited' and a fresh Certificate of Incorporation dated July 2, 2024 was issued by the Registrar of Companies. The status then converted into a Public Limited Company and the name was changed to Midwest Limited' and a fresh Certificate of Incorporation dated August 28, 2024 was issued by the Registrar of Companies, Central Processing Centre. The Company is engaged in the business of exploration, development and operation of mines, stone processing and fabrication, marketing, distribution and export of natural stones. It is one of the largest p ...roducers in Absolute Black Granite, both of which have high demand. The existing business activities primarily comprise extracting and processing Dimensional Granite, particularly the Black Galaxy and Absolute Black varieties. In the Natural Stone Segment, it primarily produce dimensional blocks and slabs of Black Galaxy Granite and Absolute Black Granite. Black Galaxy Granite is a premium stone used in real estate projects for applications such as countertops and vanities, flooring, cladding, bathroom walls and floors, swimming pools, fire places and external/ internal aids in construction. Absolute Black Granite is known for its deep uniform black color and is prized for its elegance and versatility. In addition, its hardness, durability, resistance to weathering, visual appeal and low maintenance are some of its positive attributes. Absolute Black Granite is used to make sculptures, idols of deities, pillars, lintels, beams installed over doors and windows, and plinths i.e., heavy bases used to support statues and has been extensively used in temples, monuments and memorials and is also used in modern architecture such as kitchen counters, flooring, bathroom vanities, cladding, windowsills, backsplashes, fireplaces, steps, building facades and fountains. In addition to Natural Stone business, it also manufacture Diamond Wire, which is a precision cutting tool employed in natural stone and construction industries to size stones and other hard substances with precision in mines and processing/ fabrication facilities. While operations in Diamond Wire segment began with backward integration and supporting Natural Stone Segment, at present, these operations in this segment cater both to captive consumption as well as market demand of the Indian mining and construction industry. The Company currently has 16 operational Granite Mines across 6 locations in the states of Telangana and Andhra Pradesh in India producing Granite varieties such as Black Galaxy, Absolute Black, Tan Brown, along with 1 Granite processing facility in each of the states of Telangana and Andhra Pradesh. In addition to operational mines, it also established a strong resource base comprising 25 locations across Andhra Pradesh, Telangana, Karnataka and Tamil Nadu. The Company is planning an Initial Public Issue by raising funds aggregating upto Rs 650 Crore Equity Shares of Face Value of Rs 5 each comprising a Fresh Issue of Rs 250 Crore Equity Shares and Rs 400 Crore Equity Shares through Offer for Sale.