Midwest Ltd’s initial public offering (IPO), sized at Rs.451 cr., has generated overwhelming investor interest and is now heading into the final allotment phase ahead of its listing on the bourses.
Subscription and Listing Timeline
The IPO was open for subscription from 15th October to 17th October 2025. On its final day of bidding, the overall subscription stood at 87.89 times.
Segment-wise, Non-Institutional Investors (NIIs) subscribed 168.07 times, Qualified Institutional Buyers (QIBs) 139.87 times, and retail investors 24.26 times.
The price band was set between Rs.1,014 and Rs.1,065 per share. The allotment of shares was finalised on 20th October 2025, and the listing is scheduled for 24th October 2025 on both the NSE and BSE.
Allotment Status & Grey Market Premium (GMP)
Applicants can check their share allotment status via the registrar’s portal and stock-exchange websites once live. The grey-market premium (GMP) is signalling a positive listing sentiment, currently standing around Rs.101–Rs.105.
Based on the upper price band and current premium, the estimated listing price could be around Rs.1,166 per share, implying a potential gain of around 9%.
Business Snapshot
Midwest operates in the natural-stone sector and is known as one of India’s key producers and exporters of premium Black Galaxy granite and Absolute Black granite. The company runs 16 mines across Telangana and Andhra Pradesh.
The fresh funds from the IPO will be used for capital expenditure, expansion of processing facilities, purchase of electric dump trucks, integration of solar energy at mines, and repayment of certain borrowings.
What This Means
The strong oversubscription rates and uptick in the GMP underscore robust investor appetite for companies with niche leadership in mining and export markets. For applicants, this marks a timely moment to verify allotment and refund details and prepare for the imminent listing.
