Midwest Ltd’s initial public offering (IPO) of ₹451 crore has attracted significant investor interest, achieving a subscription rate of 11.73 times by the second day of the bidding process.
The strong demand has primarily come from non-institutional investors (NIIs), who subscribed 33.20 times. Retail investors have also demonstrated notable engagement, with their subscription rate at 8.19 times. In contrast, qualified institutional buyers (QIBs) have shown relatively less enthusiasm, with a subscription rate of 1.84 times for their designated portion.
In advance of the IPO, the Quartz processor raised ₹135 crore from its anchor investors. The IPO will close tomorrow, October 17, 2025, with shares set to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 24, 2025.
The offering comprises shares priced between ₹1,014 and ₹1,065 each, featuring a fresh issue worth ₹250 crore and an offer for sale (OFS) of ₹201 crore. The funds raised from the IPO are intended to support capacity expansion and meet working capital needs.
Reactions from brokerages regarding the IPO appear varied, with some analysts voicing concerns over the company’s elevated valuation, suggesting that the pricing may be on the high side.
The unlisted market indicates that the grey market premium has increased to over 13 percent, signifying a possible listing gain, a sentiment reflected in the strong subscription figures reported.
Published on October 16, 2025.
