Upcoming IPO, Oct. 12 -- Telangana-based Midwest Ltd has set a price band of Rs.1,014- Rs.1,065 per share for its Rs.451-crore initial public offering (IPO), which will open for subscription from October 15 to 17, with the anchor book launching on October 14, the company announced on Friday.

The IPO comprises a fresh issue worth Rs.250 crore and an offer-for-sale (OFS) of Rs.201 crore. The minimum amount of investment required by an retail is Rs.14,910, based on upper price.

From the fresh issue proceeds, Rs.130.3 crore will be allocated for Phase II expansion of its quartz facility under Midwest Neostone, Rs.25.7 crore for electric dump trucks, and Rs.3.2 crore for solar energy integration at select mining sites. Additionally, Rs.56.2 ...