Midwest IPO Final Day: Subscription closes today! Check for key details

The initial public offering of Midwest Ltd entered its final day of public subscription today, on October 17. The issue had received an overall subscription over 11.72 times, on second day of bidding, as per provisional exchange data. The issue had received an overwhelming response from investors and was fully subscribed on its first day of public bidding.

Midwest IPO is expected to be finalised on October 20, 2025 and will list on NSE, BSE with a tentative listing date fixed as October 24,2025. Investors bid 2.53 crore shares against the 31.17 lakh shares offered. The subscription includes bids from:

• Qualified Institutional Buyers (QIBs): 16.33 lakh shares, 1.84 times.
• Non-institutional investors: 2.2 crore bid shares, booked issue 33.19 times.
• Retail Individual Investors (RIIs): Bid shares for 1 crore, booked issue 8.19 times.
• Employees: Bid shares for 99,806, booked issue 9.11 times.

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Midwest IPO details

The Midwest IPO is a book-building issue of Rs 451 crore, comprising a fresh issue of 2.3 million equity shares worth Rs 250 crore and an offer-for-sale (OFS) of 1.9 million equity shares worth Rs 201 crore.

Through OFS, the company's promoter Kollareddy Rama Raghava Reddy and the promoter group Guntaka Ravindra Reddy are offloading their shares worth Rs 181 crore and Rs 20 crore, respectively.

The Dam Capital Advisors Ltd., Intensive Fiscal Services Pvt., and Motilal Oswal Investment Advisors Ltd are the book-running lead managers, while Kfin Technologies Ltd. is the issue registrar.

The IPO has allocated 50 per cent, 35 per cent and 15 per cent of the net offer for the QIB, NII and retail investor categories, respectively.

• Price band: Rs 1,014 to Rs 1,065 apiece
• Face value: Rs 5 per equity share
• Subscription date: From October 15 to October 17, 2025
• Lot size: 14 shares
• Allotment date: Tentatively on October 20, 2025
• Listing date: Tentatively on October 24, 2025
• Closing date: Today, October 17, 2025

Midwest Limited company profile:

Midwest Ltd was established in 1981, operates in the granite mining and processing industry, with its headquarters in Hyderabad. The company specialises in the exploration, mining, processing, and export of premium granites and quartz-based materials.

Financially, the company's revenue from operations increased to Rs 626.18 crore from Rs 585.62 crore in FY25. The profit after tax (PAT) of the company also increased to Rs 133.30 crore from Rs 100.32 crore for the same financial year.