Midwest Ltd: IPO Proceeds Utilization Report for Q2 2026

Midwest Ltd has submitted its Monitoring Agency Report from CRISIL Ratings Limited for the quarter ended June 30, 2026, detailing the utilization of its Initial Public Offer (IPO) proceeds. The report confirms that the utilization of IPO funds is in line with the objects disclosed in the Offer Document. Proceeds were utilized for capital expenditure at a subsidiary level, repayment, and issue expenses. The gross IPO proceeds were ₹2,500.00 million, with issue expenses of ₹203.75 million, resulting in net proceeds of ₹2,296.25 million. CRISIL Ratings monitored the gross proceeds.