Midwest Ltd

Midwest Ltd Q3 2025 IPO Funds Update 📊

• Gross IPO proceeds: ₹2,500 million

• Net proceeds after issue expenses: ₹2,246.09 million

• Utilized amount as of Dec 31, 2025: ₹792.20 million

• Unutilized amount: ₹1,707.80 million

• Key utilizations: ₹543.28M for repayment of borrowings (company & subsidiary APGM), ₹74.57M for general corporate purposes (tax payments)

• No proceeds used for capital expenditure projects (quartz processing plant, electric dump trucks, solar energy integration)

• Unutilized funds invested in fixed deposits earning 3.5% to 7% interest

• Total interest earnings: ₹19.26 million

• Monitoring agency CRISIL confirmed no deviations from offer document and no material adverse events