Midwest Ltd

Midwest Ltd has announced the closure of its trading window for all designated persons and their immediate relatives. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The trading window will be effective from July 01, 2026, and will reopen 48 hours after the announcement of the unaudited financial results for the quarter ending June 30, 2026. The exact date of the board meeting to consider these results will be communicated later.

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.

Midwest Ltd has announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The company also approved the appointment of Mr. K. Achyutanand Reddy as Company Secretary & Compliance Officer, effective May 26, 2026, as per Section 203 of the Companies Act, 2013 and Regulation 6 of the SEBI (LODR) Regulations, 2015. The audit report, conducted by MSKA & Associates, provides an opinion that the financial results present a true and fair view in accordance with accounting standards and Listing Regulations.

Midwest Ltd's board meeting on May 26, 2026, approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The board also approved the appointment of Mr. K. Achyutanand Reddy as Company Secretary & Compliance Officer, effective May 26, 2026. Details of his appointment are provided in Annexure – A.

Midwest Ltd has scheduled a Board of Directors meeting on May 26, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The trading window remains closed until 48 hours after the declaration of the results.

Midwest Ltd's monitoring agency report from Crisil Ratings Limited for the quarter ended March 31, 2026, indicates that the proceeds from the Initial Public Offer (IPO) were utilized as per the disclosures in the offer document. The report, dated May 15, 2026, confirms that the proceeds were used towards capital expenditure in a subsidiary and GCP. Crisil Ratings confirms no conflict of interest in monitoring the utilization of issue proceeds.

Midwest Limited has been selected as the Lead Consortium Partner by Kerala Minerals and Metals Ltd (KMML) for a strategic Rare Earth Elements pilot project. The project involves setting up a pilot plant for processing monazite-rich tailings to produce rare earth mixed compounds and their separation into individual REEs. Midwest will undertake 100% of the capital investment, with KMML providing monazite tailings, land, power, and office space. Commercial production will be through a joint venture, with Midwest having the Right of First Refusal.

Midwest Ltd has been chosen as the Lead Consortium by Kerala Minerals and Metals Ltd. (KMML) for a Strategic Rare Earth Elements Pilot Project. The project involves processing monazite-rich tailings to produce rare earth elements (REEs), including pilot plant development. The pilot facility is expected to be commissioned within 6 months from approvals, with capital investment undertaken by Midwest Ltd. KMML will provide raw materials, land, and utilities, and Midwest Ltd will have the Right of First Refusal for commercial production.

Kollareddy Ranganayakamma, an immediate relative of promoters of Midwest Limited, acquired 14,08,851 equity shares (3.90%) from Mr. Rama Raghava Reddy Kollareddy (Promoter) through an inter-se transfer by way of gift on April 22, 2026. This transaction is exempt under Regulation 10(1)(a)(i) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and the aggregate shareholding of the Promoter and Promoter Group remains unchanged. The disclosure was made under Regulation 10(6) of the same regulations.

Kollareddy Ranganayakamma, a member of Midwest Ltd's promoter group and spouse of a promoter, has disclosed the acquisition of 2,81,770 equity shares, representing 0.78% of the company's total voting capital. The acquisition was made through an inter-se transfer by way of gift on April 22, 2026. This transaction increased her total shareholding from 3.90% (14,08,851 shares) to 4.68% (16,90,621 shares) after the acquisition. The disclosure was made under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.