Midwest Gold Limited was originally incorporated as a Limited Company under the name and style of M/s. Nova Granites (India) Limited on 20th day of November, 1990 in the State of Karnataka. The Company was incorporated as 100 % EOU with an object of processing of Granite Blocks including mining and processing of all other types of minerals. Company had commenced its commercial operations in the year 1990. In order to meet the financial needs to expand the existing business and to add few more products the Company went to public issue in the year 1994-95 and raised capital from public. In view of encouraging liberalized mining permissions to excavate Gold as taken by the Central Government to boost up the industry and economic conditions prevailing in the Country, Board had decided to diversify, inter-alia, into Gold mining and other related activities in the year 2010 without leaving its original business activities. Since then the Company has diversified into Gold Mining and related business, which was booming in India and in view of the same the Company had changed its name to M/s. Midwest Gold Limited in December, 2010. The timely decision of the Company to diversify into Gold mining business expected to be start yielding results in the very near future.
YEAR EVENTS1990 - The company was incorporated as a public limited company on 20th
November, with its registered office at Bangalore and obtained
its Certificate of Commencement of business on 1st October 1992.
Promoted by Prabhat K. Tyagi, Subhas and Mahbubani, Pawan Kumar
Jain and J. Basant Suravo.
- The main objective of the company is to manufacture polished
granite slabs and tiles.
- The company was planning to set up a 100% EOU for the manufacture
of polished granite tiles and slabs with an installed capacity
of 89,600 sq. mts. per annum at Attibela, Anekal Taluk, Bangalore
district in Karnataka.
1995 - 17,30,570 shares were held by promoters and their relatives.
58,69,430 shares were issued through prospectus of which
26,69,430 shares were allotted to promoters, Directors, their
friends and relatives. Of the remaining 32,00,000 shares,
12,00,000 shares were allotted on firm allotment basis to UTI,
SBI Mutual Fund, 20th Century Mutual Fund and IDBI. Balance
20,00,000 shares were allotted to the public (all were taken up).
2011 -Company has changed its name from Nova Granites (India) Ltd. to Midwest Gold Ltd.
2025 -The Scheme of Amalgamation between Midwest Energy Private Limited with Midwest Gold Limited.
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