Midwest has disclosed a proposed inter-se share transfer within its promoter group, with the transaction scheduled to take place on December 22, 2025. The transfer involves 14,08,851 equity shares being gifted from one promoter to an immediate family member, maintaining the overall promoter group shareholding structure.

Transaction Details

The share transfer will see Kollareddy Ranganayakamma, spouse of promoter Rama Raghava Reddy Kollareddy, acquire 14,08,851 equity shares representing 3.90% of the company's total share capital. The transaction is structured as a gift deed with no monetary consideration involved.

Regulatory Compliance

The transaction has been disclosed under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transfer qualifies for exemption under Regulation 10(1)(a)(i) as it constitutes an inter-se transfer of shares among promoters and their immediate relatives. This exemption means no open offer is required to be made to public shareholders.

Shareholding Pattern Impact

The proposed transfer will result in changes to individual shareholdings within the promoter group while maintaining the aggregate promoter group holding unchanged.

Corporate Governance

Midwest has fulfilled its disclosure obligations by providing prior intimation to both BSE Limited and National Stock Exchange of India Limited. The notification confirms that both the transferor and transferee have complied with applicable disclosure requirements under Chapter V of the SEBI SAST Regulations, 2011.

The rationale provided for the transfer is described as an inter-se transfer by the promoter to his immediate relative by way of gift, indicating a family wealth restructuring arrangement within the promoter group. The transaction maintains transparency while utilizing the regulatory framework designed for such family transfers among promoter group members.

Midwest , a leading player in the granite and quartz industry, has announced robust financial results for the quarter ended September 30, 2025, showcasing significant growth in both revenue and profitability.

Financial Highlights

The company reported a substantial increase in profit for Q2 2025, with net earnings reaching ₹290.63 million, marking a 106% rise from ₹141.15 million in the same period last year. This impressive growth was accompanied by a 55.4% year-over-year increase in revenue from operations, which climbed to ₹1,222.52 million from ₹786.94 million.

Half-Year Performance

For the first half of the fiscal year 2025-26, Midwest's financial performance remained strong:

Recent IPO Success

Midwest's growth story was further bolstered by its successful initial public offering (IPO) on October 24, 2025. The IPO raised a total of ₹4,510 million, with the company's equity shares now listed on both the National Stock Exchange and Bombay Stock Exchange.

Business Overview

Midwest is primarily engaged in exploration, extraction, manufacturing, processing, and sale of dressed granite blocks, slabs, quartz, and diamond cutting wires. The company's diverse product portfolio and strong market presence have contributed to its robust financial performance.

Management Approval

The unaudited standalone and consolidated financial results were approved by the company's Board of Directors at their meeting held on November 12, 2025, underscoring the management's confidence in the company's financial health and growth trajectory.

As Midwest continues to capitalize on its market position and operational efficiencies, investors and industry observers will be keenly watching its performance in the coming quarters. The company's strong Q2 results and successful IPO suggest a positive outlook for its future growth and market expansion efforts.