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Explore how Midwest Ltd.’s IPO has performed during its subscription period, including investor response, issue details, key dates, and steps to apply through ASBA or UPI.
The Midwest Ltd. IPO, which opened for subscription on 15 October 2025, has attracted a strong response from investors. Backed by a robust financial track record and a leading position in India’s granite and natural stone export sector, the issue saw steady interest from retail and non-institutional investors during the first two days of bidding.
By the end of Day 2 (16 October 2025), the overall issue was subscribed 3.22 times, signalling healthy market participation ahead of the final day.
The IPO opened on a positive note, reflecting cautious but confident participation across investor categories.
| Investor Category | Subscription (Approx.) |
|---|---|
Qualified Institutional Buyers (QIBs) |
0.50× |
Non-Institutional Investors (NIIs) |
4.17× |
Retail Individual Investors (RIIs) |
1.60× |
Employees |
2.54× |
Total |
1.84× |
Initial enthusiasm was led by retail and NII bidders, suggesting growing confidence in the company’s fundamentals.
On the second day, demand picked up significantly, particularly among high-net-worth and retail investors.
| Investor Category | Subscription (Approx.) |
|---|---|
Qualified Institutional Buyers (QIBs) |
0.52× |
Non-Institutional Investors (NIIs) |
8.15× |
Retail Individual Investors (RIIs) |
2.65× |
Employees |
3.66× |
Total |
3.22× |
The steady rise in subscriptions across both retail and NII segments highlights positive investor sentiment toward the issue’s valuation and the company’s export-driven growth strategy.
It illustrates the demand across different investor categories, highlighting strong interest particularly from Non-Institutional Investors and Qualified Institutional Buyers.
| Investor Category | Subscription (Approx.) |
|---|---|
Retail Individual Investors (RII) |
22.17x |
Non-Institutional Investors (NII) |
166.19x |
Qualified Institutional Buyers (QIB) |
136.76x |
Employees |
9.12x |
Overall |
85.55x |
The steady rise in subscriptions across both retail and NII segments highlights positive investor sentiment toward the issue’s valuation and the company’s export-driven growth strategy.
Here are the official details of the Midwest IPO for investors planning to apply:
Price Band: ₹1,014 to ₹1,065 per share
Face Value: ₹5 per share
Lot Size: 14 shares per lot (and in multiples thereof)
Issue Size: 42,34,740 shares aggregating up to ₹451 Crore
Fresh Issue: 23,47,417 shares (aggregating up to ₹250 Crore)
Offer for Sale: 18,87,323 shares (aggregating up to ₹201 Crore)
Employee Discount: ₹101 per share
Issue Type: Book-Building IPO
Listing: NSE and BSE
Investors can bid for a minimum of one lot (14 shares) with an investment of ₹14,910 and up to 68 lots (952 shares) with an investment of ₹10,13,880.
Below is the tentative schedule for the Midwest IPO, including key milestones from opening to listing:
| Event | Date | Details |
|---|---|---|
IPO Open Date |
15 October 2025 |
Subscription opens for all categories |
IPO Close Date |
17 October 2025 |
Final day for IPO applications |
Basis of Allotment |
20 October 2025 |
Allotment finalisation expected |
Initiation of Refunds |
23 October 2025 |
Refunds for unallotted shares begin |
Credit of Shares to Demat |
23 October 2025 |
Allotted shares credited to investor accounts |
Listing Date (BSE & NSE) |
24 October 2025 |
Midwest shares to debut on exchanges |
UPI Mandate Cut-Off Time |
5 PM, 17 October 2025 |
Final time for UPI approval |
Note: These dates represent procedural milestones based on publicly available data and are intended for informational purposes only.
Investors can apply for the Midwest IPO conveniently through ASBA (Net Banking) or UPI via broker platforms. Both are SEBI-approved methods that ensure safe and seamless IPO participation.
Follow these steps to apply for the Midwest IPO using your bank’s ASBA facility:
Log in to your online banking account with a SEBI-registered bank that provides ASBA services.
Navigate to the ‘Investments’ or ‘IPO Application’ section.
Select ‘Midwest IPO’ from the list of ongoing issues.
Enter your details, including the number of lots and bid price within the set price band.
Submit the application and confirm to block the bid amount in your account.
The blocked amount remains in your account until allotment. If allotted, the shares will be credited directly to your Demat account.
You can also apply for the Midwest IPO through your broker or trading app using UPI.
Log in to your Demat or trading account on your broker’s platform.
Go to the IPO section and choose ‘Midwest IPO’.
Enter bid details, including the number of lots and bid price.
Provide your UPI ID linked to your bank account.
You will receive a mandate request on your UPI app (e.g., BHIM, Google Pay, or PhonePe).
Approve the mandate to block funds in your account.
After allotment, if shares are allotted, the amount will be debited automatically, and shares will appear in your Demat account.
For a simple, all-in-one experience, you can also open a Demat and trading account on Bajaj Markets to apply for IPOs and track allotment updates easily.
The information provided above is based on publicly available data from reliable financial news and market sources. Investors are advised to verify figures and consult financial experts before making investment decisions. Market conditions and subscription numbers are subject to change during the IPO window.
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