Midwest Shares Drop 2% From Opening High; IPO Makes a Strong Debut on NSE & BSE with 9.4% Premium

Midwest Limited made a positive start on the stock exchanges today, listing at a big premium over its IPO price. The stock opened at Rs. 1,165.10 on the BSE, with a 9.40% rise from the issue price of Rs. 1,065. On the NSE, shares debuted at Rs. 1,165 apiece, with a 9.39% premium over the IPO price, which pleased investors.

Midwest Share Price Today

Midwest shares were listed on both NSE and BSE under the symbol MIDWESTLTD. As of 1:00 PM, shares were trading around Rs. 1140, slightly down 2.09% from the opening level. The company's market capitalisation currently stands at approximately Rs. 4,145 crore.

Midwest IPO Subscription Status

The Midwest IPO saw strong investor demand, being subscribed 92.36 times overall. Category-wise subscription was also very strong, as the retail category was booked 25.52 times. While Qualified Institutional Buyers (excluding anchor investors) subscribed 146.99 times, the NIIs booked it 176.57 times.

The IPO bidding took place from October 15 to October 17, and the allotment was finalised on October 20th.

Midwest IPO last recorded GMP

Ahead of the listing, the last recorded GMP for Midwest IPO was Rs. 100, updated on October 24, 2025, at 9:31 AM on the Investmentgain website. Based on this, the expected profit for investors stood at around 9.39%, which was close to the actual listing gains.

Midwest IPO Details

Midwest IPO was a book-built issue aggregating Rs. 451.10 crore. The IPO comprised a fresh issue of 0.23 crore shares worth Rs. 250.10 crore and an offer for sale of 0.19 crore shares aggregating Rs. 201.00 crore.

The company plans to use the money raised from the IPO for several key purposes. Around Rs. 130.30 crore will go towards funding Phase II of the Quartz Plant at Midwest Neostone. About Rs. 25.76 crore will be used for purchasing electric dump trucks, both for the company's operations and as a loan to its subsidiary, APGM. Another Rs. 3.26 crore is earmarked for integrating solar power at select mines. Additionally, the company will use Rs.56.22 crore to partially repay existing loans for itself and APGM. The remaining funds will be used for general corporate purposes, giving the company flexibility for other business needs.

About Midwest Ltd

"With 40+ years of experience, the company leads India's Black Galaxy Granite exports (64% share in FY25) and is a top Absolute Black Granite producer. It operates 16 mines and 2 processing units across South India, exporting to 17 countries with clients in China, Italy, and Thailand." According to the Canara Bank securities report.