Midwest IPO subscribed 88x; check allotment status, GMP, listing date

Investors can check their Midwest IPO allotment status on the official websites of the NSE, BSE, or through Kfin Technologies

Midwest IPO: The basis of allotment of Midwest, a quartz processing company, is expected to be finalised on Monday, October 20, 2025. The mainline public issue closed for public subscription on Friday, October 17, 2025, and received a solid response from investors. 

 

According to the National Stock Exchange (NSE), the Midwest IPO was subscribed 87.9 times, receiving bids for 273.98 million equity shares against 3.11 million shares on offer. The demand was led by Non-Institutional Investors (NIIs), who subscribed to their reserved portion 168.07 times the reserved quota. The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed to 139.87 per cent, and the retail investors portion at 24.26 times.

 

Once the allotment process is complete, investors can check their allotment status on the official websites of the NSE, BSE, or through Kfin Technologies, the registrar handling the issue.

Steps to check Midwest IPO allotment status on BSE:

• Go to the official BSE website at bseindia.com/investors/appli_check.aspx
• From the Issue Type dropdown menu, choose 'Equity'
• Select 'Midwest' from the list of IPOs available
• Enter your Application Number or your PAN (Permanent Account Number)
• Complete the Captcha verification as shown on the page
• Click on the 'Search' button to view your IPO allotment status

Steps to check Midwest IPO allotment status on Kfin Technologies:

• Visit the Kfin Technologies IPO allotment status page - ipostatus.kfintech.com/
• Click on any of the available links on the page
• From the “Select IPO” dropdown, choose 'Midwest'
• Enter your PAN/Application Number/Demat Account Number
• Complete the captcha as shown
• Click the submit button to check your allotment status

Midwest IPO GMP

According to the sources tracking unofficial markets, the unlisted shares of Midwest were trading at ₹1,166 apiece, commanding a premium of ₹101 or 9.5 per cent compared to the upper end of the price band of ₹1,014 to ₹1,065, in the grey market.

Midwest IPO listing date

Midwest IPO opened for public subscription on Wednesday, October 15, and closed on Friday, October 17, 2025. After the allocation of shares, the company will initiate refunds and transfers of shares to the Demat accounts on October 23. Shares of Midwest are scheduled to list on the bourses, BSE and NSE, on Friday, October 24, 2025. 

 

Kfin Technologies serves as the registrar for the public issue. DAM Capital Advisors, Intensive Fiscal Services, and Motilal Oswal Investment Advisors are the book-running lead managers.

 

According to the red herring prospectus (RHP), the company plans to utilise ₹130.3 crore from the net fresh issue proceeds for investment in wholly owned subsidiary - Midwest Neostone, by way of a loan, towards funding capex for the Phase II Quartz Processing Plant. Further, ₹25.8 crore will be used for capex for the purchase of Electric Dump Trucks to be used by the company and investment in material subsidiary - APGM, by way of a loan, for the purchase of Electric Dump Trucks, and ₹3.3 crore for capex for the integration of solar energy at certain mines of the company. The company proposes to use ₹56.2 crore for prepayment or repayment of certain borrowings of the company and APGM. The remaining funds will be used for general corporate purposes.