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Midwest IPO to list Oct 24 after ₹451 cr raise; grey-market signals positive debut
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Midwest raised ₹451 cr and lists Oct 24; issue oversubscribed 48× with QIB interest and grey-market premium near ₹55 implying double-digit listing gains amid industrial recovery optimism.
Quartz component manufacturer Midwest will debut on Oct 24 after raising ₹451.1 crore through a fresh issue of 2.3 million shares and an offer for sale of 1.9 million. The issue was subscribed 48 times, led by QIB bids at 27×. Grey-market premium hovered around ₹50–₹55, suggesting a 10-12% listing gain. Funds will expand precision-component capacity and automate testing lines. Analysts said the solid subscription reflects industrial revival and IPO risk appetite. Midwest supplies quartz processors to automotive and aerospace segments with exports to Europe and Japan.