Shares of Midwest Limited will hit the stock market on Friday, following an extraordinary demand that resulted in 87 times subscription by the investors across all verticals.
The Rs 451 crore IPO, which opened the doors for public bidding on October 15, accepted applications till October 17. Shares were allotted to selected investors on October 20, and those who were not allotted will receive a refund of the invested amount. As per the official website of NSE, Midwest Limited shares will be listed on both NSE and BSE on October 24.
🚀 Midwest IPO listing tomorrow!
— Astryx (@astryx_ai) October 23, 2025
GMP at ₹103
Oversubscribed 88x, led by QIBs (140x) & NIIs (168x)
Expected to list near ₹1,168 (~10% above issue)
Midwest is a top Black Galaxy Granite exporter, adding sector buzz!#IPO #Astryx #MidwestIPO
As per various media reports and business analysts, the grey market premium (GMP) of the Midwest Limited IPO surged to Rs 103 per share. With the price range set at Rs 1014-1065 and with the latest GMP details, nearly 10 per cent listing gains can be expected by investors.
After three days of public bidding, Qualified Institutional Buyers had subscribed 139.87 times, Non Institutional Investors subscribed 168.07 times, Retail Individual Investors subscribed 24.26 times and Employees subscribed 24.44 times.
Through the IPO, Midwest Limited aims to raise Rs 250 crore through a fresh issue and Rs 201 crore through OFS.
IPO investment details:
Investors needed to apply for a minimum of 1 lot at Rs 14,196. A lot would consist of 14 shares.
About Midwest Limited
Midwest Limited is involved in the exploration, mining, processing, marketing, distribution, and export of natural stones. Apart from this, they also manufacture diamond wire, a precision cutting tool used in mining and construction.
