India's Midwest shines in debut on strong growth prospects

Midwest

24/10/2025 06:36

** India's mining company Midwest MIDW.NS rises as much as 11.7% to 1,190 rupees in debut trade

** Stock listed at 1,165 rupees vs issue price of 1,065 rupees

** The 4.51 billion rupee ($51.31 million) IPO was subscribed 87.89 times, with strong interest across investor categories

** Midwest, which has 20 mining leases and five processing units across India, gets 96% of its revenue from natural stone sales

** "Company has secured licenses to mine rare earth minerals, adding further potential to its growth prospects," Ventura Securities says

** Adds that the company also has plans for a quartz processing plant, which could make it a major player in the solar and semiconductor industries

** About 3.3 million shares traded so far on the day

($1 = 87.8950 Indian rupees)

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com;))