Midwest IPO listing: Shares of Midwest Limited witnessed a positive listing on Friday, October 24, following a strong response to its initial public offering (IPO). Midwest share price was listed at ₹1,165 on both the BSE and the National Stock Exchange (NSE), a premium of 9.39% or ₹100, over the issue price of ₹1,065.
The listing was largely in line with expectations as signalled by the grey market premium (GMP). Midwest IPO GMP today was ₹115 ahead of the listing, signalling a listing pop of 10.8%.
Midwest IPO Details
The company’s IPO had witnessed a blockbuster response, having been subscribed 87.89 times on the final day of the bidding process.
Midwest IPO, open for bidding from October 15 to October 17, received bids for 27,39,83,178 shares as against 31,17,460 shares on offer. The portion reserved for non-institutional investors (NIIs) garnered 168.07 times the subscription, while the category for qualified institutional buyers (QIBs) received 139.87 times the subscription. The quota meant for retail investors was booked 24.26 times.
Midwest IPO was priced at ₹1,014-1,065 per share, looking to raise ₹451 crore at the upper end of the price band.
(This is a developing story. Check back for updates)