IPO Date: Oct 15 to Oct 17 2025
Our Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
1. Investment in Midwest Neostone Private Limited (“Midwest Neostone”), our wholly owned subsidiary, by way of a loan, towards funding capital expenditure for Phase II of the quartz grit and powder processing plant (the “Phase II Quartz Processing Plant”);
2. Capital expenditure for purchase of electric dump trucks (“Electric Dump Trucks”) to be used by our Company and investment in Andhra Pradesh Granite (Midwest) Private Limited (“APGM”), our Material Subsidiary, by way of a loan, for purchase of Electric Dump Trucks;
3. Capital expenditure for integration of solar energy at certain Mines of our Company;
4. Pre-payment/re-payment of, in part or full, certain outstanding borrowings of the Company and investment in APGM, by way of a loan, for pre-payment/ re-payment of, in part or full, certain outstanding borrowings of APGM; and
5. General corporate purposes.
...
xploration, development and operation of mines, stone processing and fabrication, sales, distribution and marketing of various types of natural stone. We are engaged in the business of exploration, mining, processing, marketing, distribution and export of natural stones, with an emphasis on sustainability. We are India’s largest producer and exporter of Black Galaxy Granite (a variety of Granite which is sparkling with flakes of a golden hue), and held a share of approximately 23% of the Indian export market for Black Galaxy Granite in Fiscal 2024 (Source: CRISIL Report), exporting 48,249 cubic meters of Black Galaxy Granite during Fiscal 2024. Read MoreK FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.)
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