The Midwest Limited IPO has generated significant investor excitement, with the natural stone processing company’s public offering receiving massive oversubscription from retail investors, HNIs, and institutional buyers. With allotment finalizing on October 20 and listing anticipated on October 24, 2025, this Rs 451 crore issue marks an important entry into the stone processing sector. If you’ve applied for Midwest IPO, here’s everything you need to know about checking your allotment status, understanding the GMP, and what to expect on listing day.
Table of Contents
IPO Overview & Key Dates
Midwest Limited, established in 1981, specializes in exploration, mining, processing, marketing, and export of natural stones, particularly known for its Black Galaxy Granite. The company raised Rs 451 crore through its mainline IPO comprising a fresh issue of Rs 250 crore and an offer for sale of Rs 201 crore.
The IPO opened for subscription on October 15 and closed on October 17, 2025, with allotment finalized on October 20 and listing expected on October 24, 2025.
IPO Details & Subscription Status
| Aspect | Details |
|---|---|
| Issue Size | Rs 451 Crore |
| Price Band | Rs 1,014 – Rs 1,065 per share |
| Lot Size | 14 shares |
| Minimum Investment | Rs 14,910 |
| Subscription Status | 36.38x oversubscribed |
| GMP | Rs 92-175 per share (~8-16% premium) |
| Allotment Date | October 20, 2025 |
| Credit to Demat | October 23, 2025 |
| Listing Date | October 24, 2025 (Tentative) |
Subscription Breakdown & Investor Demand
The issue received bids for 113.41 million equity shares against 3.11 million shares on offer, resulting in an overall subscription of 36.38 times. Non-institutional investors showed the strongest appetite, oversubscribing their portion by 110.81 times, while retail investor demand remained firm at 17.84 times subscription and qualified institutional buyers booked their quota 13.22 times.
This extraordinary demand reflects investor confidence in Midwest’s business model and growth potential in India’s expanding stone processing sector.
How to Check Allotment Status Online
Checking your Midwest IPO allotment status is simple. Visit the KFin Technologies website (the IPO registrar) and follow these steps:
- Enter your PAN number, application number, or DP Client ID
- Click “Search” to view your allotment status
- Note the number of shares allotted to your account
For IPO investment guides and stock market tips, follow dedicated finance platforms for comprehensive investor education.
Grey Market Premium & Listing Expectations
According to sources monitoring unofficial market activity, the company’s unlisted shares were trading at around Rs 1,157 apiece, reflecting a grey market premium (GMP) of Rs 92 or 8.7 per cent above the IPO’s upper price band of Rs 1,065. Some sources indicate GMP ranging between Rs 100-175 per share, suggesting potential listing gains.
However, analysts at SBI Securities have given the Midwest IPO a ‘Neutral’ rating, noting that it is priced at a premium relative to its industry peers, suggesting investors should exercise caution.
Financial Performance & Growth
Midwest Limited’s revenue increased by 7% from Rs 603.32 crore in March 2024 to Rs 643 crore in March 2025, while the company’s PAT rose by 33% from Rs 100.32 crore to Rs 133.30 crore, demonstrating strong profitability growth.
Use of IPO Proceeds
The company plans to allocate Rs 130.3 crore from fresh issue proceeds as a loan to its subsidiary for quartz processing plant expansion, Rs 25.8 crore for electric dump trucks, Rs 3.3 crore for solar energy integration, and Rs 56.2 crore for debt repayment.
Midwest Limited’s IPO marks an exciting opportunity for investors interested in India’s natural stone processing sector. With strong subscription demand, positive fundamentals, and reasonable listing expectations, the issue has attracted significant investor interest. As allotment finalizes and listing approaches, stay informed through official channels and reputable financial platforms. Remember that IPO investments carry risks, and past performance doesn’t guarantee future results—invest wisely and consider your financial goals before committing capital.
FAQs
Q1: How do I check my Midwest IPO allotment status?
You can check your Midwest IPO allotment status on the KFin Technologies website by entering your PAN number, application number, or DP Client ID. For any queries regarding allotment and refunds, contact KFin Technologies Limited at reachus@kfintech.com or 04067162222. For detailed IPO allotment information and guidance, visit Outlook Money and Business Standard for comprehensive IPO coverage and real-time updates
Q2: What does the GMP indicate and should I invest based on it?
The Grey Market Premium (GMP) indicates unofficial market sentiment and suggests potential listing gains. Midwest’s GMP ranging from Rs 92-175 per share suggests 8-16% potential listing gains. However, analysts recommend caution as the IPO is priced at a premium relative to peers. For stock market investment strategies and IPO analysis, consult dedicated financial platforms and consider your risk profile before investing.
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