Mumbai : Shares of Quartz Processor, Midwest Ltd, which is in the business of exploration, mining, processing, marketing, distribution and export of natural stones with an emphasis on sustainability, debuted on the exchange and closed at 7.4 % premium.

The scrip listed at Rs 1165.1 and Rs 1165 per share on the BSE and NSE respectively. Immediately after the listing, the stock showed impressive upside movement and closed the day with a premium. The company’s share price closed at Rs 1,141 per share on the BSE, a 7.1 % premium, and at Rs 1,144.1 per share on the NSE, a 7.4 % premium.

As per NSE, the total quantity traded stood at 47.28 lakh shares, on BSE the total Quantity stood at 5.68 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 613 crore.

The Market Capitalisation of the Company at today’s closing price stood at Rs 4,126.3 crore as per BSE and Rs 4,137.2 crore as per NSE.

The company had offered Rs 451 crore issue for subscription from October 15 to October 17. This garnered substantial interest, and the offer was subscribed 87.89 times. Qualified Institutional Investors Portion and Non-institutional investor portion were subscribed 139.87 times and 168.07 times respectively. Retail Investors Portion was subscribed 24.26 times.

The company is 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 64% of the Indian export market for Black Galaxy Granite in Fiscal 2025 (Source: CRISIL Report), exporting 44,992 cubic meters of Black Galaxy Granite during Fiscal 2025.

The company is also the largest producer in Absolute Black Granite (a variety known for its remarkable surface finish) in India, both of which have high demand. Its Absolute Black Granite production accounted for 15.7% of the overall black granite production in India during Fiscal 2025. (Source: CRISIL Report).

Apart from its natural stone business, the company also manufactures diamond wire, which is a precision cutting tool employed in the natural stone and construction industries to size stones and other hard substances with precision in mines and processing/ fabrication facilities.

DAM Capital Advisors, Intensive Fiscal Services and Motilal Investment Advisors are the book-running lead managers; and Kfintech Technologies is the registrar of the offer.