Midwest IPO Day 3: The initial public offering (IPO) of quartz processor Midwest Ltd has been closed today, Friday, October 17. The Rs 451-crore mainboard IPO was opened for public subscription on October 15. On the final day of bidding on Friday, the IPO received a 92.36x subscription, garnering bids for 27,40,31,674 shares as against the 29,67,136 shares on offer.

Its retail category has received a 25.52x subscription, while the NII (non-institutional investor) quota has received a 176.57x subscription. The QIB category received a 146.99x subscription.

Midwest IPO GMP Today

According to market observers, unlisted shares of Midwest Ltd have fallen to Rs 1,165 apiece in the grey market, compared with the upper IPO price of Rs 1,065. It means a grey market premium (GMP) of 9.39%, indica

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