Midwest IPO Sees Exceptional Demand, Subscribed 92.36x by Day 3

Midwest Limited's initial public offering (IPO) has demonstrated exceptional investor interest through its third day of subscription. The stock price band is set at ₹1,014-1,065 per share. The ₹451.00 crore IPO reached 92.36 times by 5:04:35 PM on day three. This indicates exceptional investor interest in this granite mining and processing company, incorporated in 1981.

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Midwest IPO non-institutional investors segment leads with an exceptional 176.57 times subscription. Qualified institutional buyers (ex-anchor) demonstrate exceptional participation at 146.99 times. Employees show a strong interest at 25.80 times. Retail investors display strong participation at 25.52 times. Anchor investors show complete participation at 1.00 times. This reflects outstanding investor confidence in this company.

Midwest IPO subscription reached an exceptional 92.36 times on day three. It was led by Non-Institutional Investors (176.57x), Qualified Institutional Buyers Ex-Anchor (146.99x), Employees (25.80x), and Retail Investors (25.52x). Total applications reached 23,08,151.

Subscription Status of Midwest IPO

Here are the subscription details for Midwest IPO as of Day 3 (October 17, 2025, 5:04:35 PM):

Key Highlights - Day 3

• Overall subscription reached an exceptional 92.36 times, showing exceptional improvement from day two's 12.34 times
• Non-institutional investors category displaying exceptional interest at 176.57 times, building substantially from day two's 34.89 times
• Qualified institutional buyers (ex-anchor) showing exceptional performance at 146.99 times, building substantially from day two's 1.93 times
• Employees displaying strong confidence at 25.80 times, building substantially from day two's 9.64 times
• Retail investors showing strong performance at 25.52 times, building substantially from day two's 8.63 times
• Total applications reached 23,08,151, indicating exceptional investor participation for this mainboard IPO
• Cumulative bid amount reached ₹29,184.37 crores, significantly exceeding the issue size of ₹451.00 crores

Midwest IPO - Day 2 Subscription at 12.34 Times

Key Highlights - Day 2

• Overall subscription reached a strong 12.34 times, showing exceptional improvement from day one's 1.94 times
• Non-institutional investors displaying exceptional interest at 34.89 times, building substantially from day one's 4.39 times
• Employees showing strong performance at 9.64 times, building substantially from day one's 2.69 times
• Retail investors displaying strong confidence at 8.63 times, building substantially from day one's 1.69 times
• Qualified institutional buyers (ex-anchor) showing moderate growth at 1.93 times, building substantially from day one's 0.52 times
• Total applications reached 7,49,328, indicating exceptional investor participation for this mainboard IPO
• Cumulative bid amount reached ₹3,897.95 crores, significantly exceeding the issue size of ₹451.00 crores

Midwest IPO - Day 1 Subscription at 1.94 Times

Key Highlights - Day 1:

• Overall subscription reached a moderate 1.94 times, showing positive initial investor interest
• Non-institutional investors category is displaying a strong interest at 4.39 times, indicating a robust HNI appetite
• Employees showing moderate performance at 2.69 times, indicating positive employee sentiment
• Retail investors displaying moderate confidence at 1.69 times, showing positive retail sentiment
• Qualified institutional buyers (ex-anchor) showing limited performance at 0.52 times, indicating weak institutional appetite

About Midwest Limited

Incorporated in 1981, Midwest Limited is engaged in the business of exploration, mining, processing, marketing, distribution, and export of natural stones. The company is a producer and exporter of Black Galaxy Granite, a unique granite variety known for its sparkling golden flakes. Midwest Limited operates 16 granite mines across 6 locations in Telangana and Andhra Pradesh. The company produces a wide range of granite varieties, including Black Galaxy, Absolute Black and Tan Brown. The company has one granite processing facility in each of the states of Telangana and Andhra Pradesh. The company exports its products to 17 countries across five continents. As of June 30, 2025, the company employed 1,326 personnel.