Kolkata: The Midwest IPO is designed to raise Rs 451 crores through a book built issue through a combination of fresh issue of 0.23 crore shares aggregating to Rs 250 crore and an OFS segment consisting of 0.19 crore shares aggregating to Rs 201 crore. The issue opens on October 15 and ends on October 17, 2025. A significant development about this company is that it is moving into the rare earths sector, reports have said.
A piece of communication on BSE website shows that Midwest has raised Rs 135 crore from anchor investors, the list of which includes prominent names such as Goldman Sachs Funds, Edelweiss Life Insurance Company, Axis Mutual Fund, Kotak Mutual Fund, ITI Mutual Fund and Svadha India Emerging Opportunities Scheme. The shares were placed at Rs 1,065 each.
Midwest IPO GMP
On the first day of the bidding process, Midwest IPO GMP stood at Rs 145, investorgain data showed. Considering the upper end of the price band of Rs 1065.00, the listing gain signalled by the GMP at this level is 13.62%. The GMP data is available since October 13 and it stood at the same level on that day too. However, it must be kept in mind that GMP is a unofficial, volatile element that does not guarantee anything –n listing gain or loss.
Midwest IPO price band, lot size
The Midwest IPO price band has been fixed at Rs 1014-1065. For a retail investor, the smallest investible lot has 14 shares, which calls for an application money of Rs 14,910 based on the upper end of the price band. For sNII investors, the smallest lot size is 14 lots or 196 shares and that for bNII category of investors it is 68 lots or 952 shares. Dam Capital Advisors is the lead manager and Kfin Technologies the registrar of the issue.
Midwest IPO allotment date, listing date
The significant dates for Midwest IPO are the following.
Allotment date: October 20
Refund to unsuccessful bidders: October 23
Credit of shares to demat account of successful bidders: October 23
Listing date: October 24
Cut-off time for UPI mandate confirmation: 5 PM on October 17
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