Midwest IPO Day 3: Subscription Surges as Public Issue Nears Close

The Midwest IPO continued to attract strong investor interest on the third day of bidding. With the subscription window closing on October 17, 2025, the public issue has seen robust participation across all investor segments, highlighting confidence in the company’s offerings.

Market Performance

The IPO of Midwest Ltd., a leading Black Granite manufacturer and exporter, has drawn attention in the stock market today.

• The price band for the IPO is set between ₹1,014 to ₹1,065 per share.
• The total capital to be raised is ₹451 crore, with ₹250 crore through a fresh issue and ₹201 crore via an Offer for Sale (OFS).
• Investors have been active across retail, institutional, and non-institutional segments.

Midwest IPO Subscription Status

On day 3 of the public issue, subscription figures reflected strong demand:

• Overall subscription: 13.72 times
• Retail investors: 9.04 times
• Non-Institutional Investors (NII): 40.55 times
• Qualified Institutional Buyers (QIB): 1.85 times

The numbers indicate heightened participation from the NII segment, with retail investors also showing steady interest.

Company Overview and IPO Details

Midwest Ltd. has a long-standing presence in the natural stone industry, particularly in Black Galaxy Granite. The company has leveraged its expertise and market position to expand into multiple high-growth verticals:

• Quartz and HMS segments
• Applications in solar glass, electric vehicles (EVs), aerospace, and semiconductors

The company plans to utilize proceeds from the fresh issue for capacity expansion and green energy initiatives, signaling strategic investments aligned with India’s growing industrial and renewable energy sectors.

IPO Timelines

• Allotment date: Likely October 18, 2025 (may extend to October 20 due to Saturday)
• Listing date: Likely October 25, 2025, accounting for stock market holidays on October 22-23

These timelines give investors a clear roadmap for when they can expect share allocation and the listing on the BSE and NSE.

Summary

The Midwest IPO has seen substantial interest over the first three days, particularly from institutional and non-institutional investors. With the issue set to close soon, the company’s strong market position and plans for capacity expansion have captured attention in the stock market today.

Investors have responded actively across segments, making this IPO one of the most-watched public issues in the natural stone and industrial materials sector this quarter.