Midwest IPO Day 2: Subscribed 5.46 times

Midwest Ltd’s ₹451 crore initial public offering (IPO) has garnered strong investor interest, with the issue subscribed 5.46 times so far on the second day of bidding. At 12.33 pm on October 16, 2025, the demand was primarily driven by non-institutional investors (NIIs), who have bid 14.12 times. Retail investors have shown robust participation, subscribing 4.56 times. However, qualified institutional buyers (QIBs) have been relatively subdued, with their portion subscribed only 0.55 times. Ahead of the IPO, the Quartz processor mobilised ₹135 crore from anchor investors The IPO concludes tomorrow, October 17, 2025. Shares are scheduled to list on the BSE and NSE on October 24, 2025. The IPO offers shares in the price band of ₹1,014 to ₹1,065 per share and comprises fresh issue of shares worth ₹250 crore and an offer for sale (OFS) of ₹201 crore. The company aims to utilise the proceeds for capacity expansion and working capital requirements. Brokerages have mixed views on the IPO. Some analysts have expressed concerns about the company’s high valuation, suggesting that the IPO may be priced on the higher side. The unlisted market suggests that the grey market premium increased to over 13 per cent, indicating a potential listing gain. This positive sentiment is reflected in the strong subscription figures. Published on October 16, 2025