Midwest Limited IPO Lists at ₹1,165 on NSE and BSE, Up 9.4% Over Issue Price of ₹1,065

Hyderabad, October 24: The shares of Midwest Limited made a strong debut on NSE and BSE today, on October 24. The shares are listed at ₹1,165 per share, marking a 9.4% premium over the issue price of ₹1,065. As of 11:25 AM, the shares were still up by 8.25%, or 87.90 points, and were trading at ₹1,152.90. Until now, the shares have traded within a range of ₹1,190 and ₹1,137. The traded volume stood at 35.13 lakh shares.

Midwest Limited, established in 1981 and headquartered in Hyderabad, Telangana, is India’s largest producer and exporter of Black Galaxy Granite. For FY25, the company reported revenue of ₹6,261.82 million and a net profit of ₹1,332.99 million, maintaining an EBITDA margin of 25.76% and a debt-to-equity ratio of 0.43.

Midwest Limited Raised ₹134.99 Crore From Anchor Investors

On October 14, ahead of the IPO, the company raised ₹134.99 crore from anchor investors by allocating 12,67,605 equity shares at the upper price band of ₹1,065 per share. Key investors included Goldman Sachs India Equity Portfolio, Axis Mutual Fund, Kotak Mahindra Mutual Fund, Invesco India Frontline Equity Fund, and Edelweiss Recently Listed IPO Fund.

Midwest Limited Overall Subscription At 87.89 Times

The Midwest Limited IPO was subscribed 87.99 times overall, receiving bids for 27,39,83,920 shares against 31,17,460 offered. The Qualified Institutional Buyers (QIBs) segment, with 8,87,572 shares on offer, was subscribed 139.87 times with bids for 12,41,46,388 shares. Non-Institutional Investors (NIIs) led with the highest subscription of 168.07 times, bidding for 11,18,84,290 shares against 6,65,681 offered. Retail Individual Investors (RIIs) subscribed 24.26 times, while the Employee category saw a subscription of 24.44 times.

REF: https://www.nseindia.com/get-quotes/equity?symbol=MIDWESTLTD

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