Midwest Ltd: No deviation in IPO fund utilization for Q4 FY26

Midwest Limited (formerly Midwest Granite Private Limited) has reported no deviations or variations in the utilization of its Initial Public Offer (IPO) proceeds for the quarter ended March 31, 2026. This was confirmed by the Audit Committee on May 13, 2026, as per Regulation 32 of SEBI Listing Regulations. The company raised ₹22,500 Million (excluding OFS portion) through its public issue on October 20, 2025. A minor adjustment occurred where ₹50.16 Million from issue-related expenses, being less than estimated, was reallocated to General Corporate Purposes (GCP), increasing GCP to ₹140.93 Million. This reallocation ensures that the amount for GCP does not exceed 25% of the Net Proceeds from the Fresh Issue, adhering to regulatory norms.