Midwest IPO Day 3: GMP Rises to ₹175, Strong Subscription — Should You Apply?
Midwest IPO Day 3: GMP rises to ₹175 with strong 11.73x subscription. Experts recommend a ‘Subscribe’ rating for long-term investors ahead of October 25 listing.
Midwest IPO 2025 sees GMP jump to ₹175 amid strong investor demand and bullish market sentiment.
The third day of bidding for the Midwest Ltd. IPO has drawn strong investor interest as the Grey Market Premium (GMP) surged to ₹175, marking a rise of ₹30 from yesterday’s ₹145. The IPO, open from October 15 to 17, 2025, has seen a robust subscription trend across investor categories.
The Black Granite manufacturer and exporter has set the price band between ₹1,014 and ₹1,065 per share, aiming to raise ₹451 crore—including ₹250 crore via fresh issue and ₹201 crore through the Offer for Sale (OFS) route. The shares will be listed on both the BSE and NSE.
Midwest IPO GMP Today
According to market observers, the steady rise in GMP—from ₹130 earlier this week to ₹175 today—reflects improving sentiment in both the primary and secondary markets. Analysts attributed this increase to the strong demand in subscription and a bullish turn in the Dalal Street mood, with the Nifty 50 index breaching key resistance levels at 25,300 and 25,500.
Midwest IPO Subscription Status
As of the end of Day 2, the public issue was booked 11.73 times. The retail portion was subscribed 8.19 times, the NII segment 33.20 times, and the QIB portion 1.68 times—indicating healthy participation across investor classes.
Midwest IPO Review: Should You Apply?
Brokerages have largely maintained a ‘Subscribe’ stance on the issue.
Aditya Birla Money recommends “Subscribe for Long-Term”, highlighting Midwest’s diversification into quartz and HMS segments, aligned with India’s growth in EVs, solar glass, and semiconductors.
Canara Bank Securities also advises to “Subscribe”, citing Midwest’s leadership in the Black Galaxy Granite export market (64%) and Absolute Black Granite production (15.7%).
However, SBI Capital Securities has issued a neutral call, noting the higher valuation at 27x P/E compared to peers’ 12x.
Midwest IPO Key Dates
Bidding period: October 15–17, 2025
Expected allotment date: October 20, 2025 (may be delayed due to the weekend)
Likely listing date: October 25, 2025
