Midwest Limited IPO DHRP: The IPO of Midwest, the largest producer and exporter of Black Galaxy Granite, is coming soon.
Midwest Limited IPO DHRP Details
Midwest has decided to raise Rs 650 crore through initial public offering. Midwest has filed draft papers for the IPO with market regulator Stock and Exchange Board of India.
According to the draft released by Midwest, Midwest plans to raise Rs 250 crore through issuance of new shares and Rs 400 crore through offer for sale.
Midwest Limited IPO Motive
According to information received from media reports, out of the money received by Hyderabad-based Midwest by issuing new shares in its IPO, Rs 156 crore will be used for capital expenditure for the purpose of Phase 2 quartz processing plant, purchase of electric dump trucks and integration of solar energy in some mines. Will spend for.
Midwest Limited Revenue
Midwest Limited‘s profit increased by 84% in FY24. The company had total outstanding borrowings of Rs 150.4 crore as of August 2024.
According to media reports, Midwest’s net profit in FY 2024 increased by 84.3 percent to Rs 100.3 crore. Revenue grew 16.5 percent to Rs 585.6 crore from Rs 502.5 crore a year ago.