Midwest Ltd IPO

India's largest producer and exporter of Black Galaxy Granite, a premium variety of Granite and the largest producers of Absolute Black Granite in India

Presence across the entire Dimensional Granite value chain with mine to distribution capabilities.

Emphasis on research and development and technology integration.

Significant establishment costs with a long gestation period benefitting established players.

One of our Promoters, Mr. Kollareddy Rama Raghava Reddy, had received a notice in 2015 from the Central Bureau of Investigation ("CBI") in relation to the formation and operations of our Subsidiary, BEML Midwest Limited. Any regulatory actions in relation to this notice, could adversely affect our and our Promoter's reputation or divert the time and attention of our management, and accordingly, may affect our business and results of operations.

Our estimates of natural stone reserves in our Mines may be materially different from the quantity and quality of natural stone that may actually be recovered from such Mines. Further, our estimates of mine life, i.e., the operational lifespan of a Mine, may prove to be inaccurate and market price fluctuations and changes in operating and capital costs may render certain or all of our natural stone reserves uneconomical to exploit.

Our business operations are subject to regulation. We are required to obtain, renew or maintain statutory and regulatory approvals to operate our business, and we may experience delays in obtaining, renewing or maintaining such approvals or be unable to obtain such approvals due to litigation and change in regulatory landscape.

There are outstanding legal proceedings involving our Company, our Subsidiaries, our Directors and our Promoters. Any adverse outcome in such proceedings may adversely affect our reputation, business, results of operations, cash flows and financial condition.