Midwest IPO oversubscribed ~1.84x on Day 2, GMP rises

The Midwest IPO saw impressive interest on its second day as subscription levels hit ~1.84x. Grey market premium also surged, reflecting strong secondary expectations. The issue, sized at ₹451 crore, witnessed 57.33 lakh bids against 31.17 lakh shares offered. Investor confidence is buoyed by the company’s robust fundamentals and global reach. The strong reception may lead to a premium listing. Analysts view this as a validation of renewed appetite in India’s IPO pipeline amid cautious market conditions.