Midwest IPO Subscription
ListedUpdated 24 October 2025, 9:15 AM IST· Mainboard
Midwest IPO subscription closed on 17 October 2025 at 92.36x overall by shares. QIB demand came in at 146.99x, NII at 176.57x, and retail at 25.49x. See Retail, SHNI, and BHNI allotment chances in the table below.
Allotment date is 20 October 2025. Listing date on NSE and BSE is 24 October 2025.
Midwest IPO Day-wise Subscription
Daily QIB, NII, Retail, and overall subscription as bids come in
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 15 Oct 2025 | 0.52x | 4.39x | 1.69x | 1.94x |
| Day 2 - 16 Oct 2025 | 1.93x | 34.89x | 8.63x | 12.34x |
| Day 3 - 17 Oct 2025 | 146.99x | 176.57x | 25.52x | 92.36x |
Midwest IPO Allotment Chances
Retail, SHNI, and BHNI chances based on application subscription
Midwest IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.
| Category | Subscription (Apps) | Allotment Chances |
|---|---|---|
| Retail | 20.01x | 1 in 20 |
| SHNI (Rs 2L to Rs 10L) | 120.60x | 1 in 121 |
| BHNI (above Rs 10L) | 40.52x | 1 in 41 |
Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.
Check the Midwest IPO Allotment Status page from 20 October 2025 for your result.
Midwest IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 1,065.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 89.95 Cr | Rs 13,221.80 Cr | 146.99x |
| FII | - | Rs 3,245.04 Cr | - |
| DFI | - | Rs 5,212.53 Cr | - |
| Mutual Funds | - | Rs 1,094.08 Cr | - |
| Other | - | Rs 3,670.16 Cr | - |
| NII | Rs 67.48 Cr | Rs 11,915.68 Cr | 176.57x |
| bNII (above Rs 10L) | Rs 44.99 Cr | Rs 9,077.43 Cr | 201.77x |
| Corporate | - | Rs 77.77 Cr | - |
| Individual | - | Rs 8,568.09 Cr | - |
| Other | - | Rs 431.57 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 22.49 Cr | Rs 2,838.24 Cr | 126.17x |
| Corporate | - | Rs 6.09 Cr | - |
| Individual | - | Rs 2,699.30 Cr | - |
| Other | - | Rs 132.86 Cr | - |
| Retail | Rs 157.46 Cr | Rs 4,013.30 Cr | 25.49x |
| Cut-off price | - | Rs 3,271.76 Cr | - |
| Fixed price | - | Rs 741.54 Cr | - |
| Employee | Rs 1.10 Cr | Rs 28.51 Cr | 25.81x |
| Cut-off price | - | Rs 22.35 Cr | - |
| Fixed price | - | Rs 6.16 Cr | - |
| Total | Rs 316.00 Cr | Rs 29,179.29 Cr | 92.34x |
Midwest IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 8,44,579 | 786 | 0.00x |
| FII | - | 56 | - |
| DFI | - | 53 | - |
| Mutual Funds | - | 16 | - |
| Other | - | 661 | - |
| NII | 3,233 | 2,17,324 | 67.22x |
| bNII (above Rs 10L) | 2,155 | 87,320 | 40.52x |
| Corporate | - | 715 | - |
| Individual | - | 82,431 | - |
| Other | - | 4,174 | - |
| sNII (Rs 2L to Rs 10L) | 1,078 | 1,30,004 | 120.60x |
| Corporate | - | 263 | - |
| Individual | - | 1,23,508 | - |
| Other | - | 6,233 | - |
| Retail | 1,05,609 | 21,13,134 | 20.01x |
| Cut-off price | - | 17,02,442 | - |
| Fixed price | - | 4,10,692 | - |
| Employee | 741 | 12,690 | 17.13x |
| Cut-off price | - | 10,294 | - |
| Fixed price | - | 2,396 | - |
| Total | 9,54,162 | 23,43,934 | 2.46x |
What Do These Subscription Numbers Mean?
92.36x overall by shares means bids covered about 92 times the shares on offer. Allotment chances depend on applications in each category.
QIB at 146.99x by shares shows institutional demand from mutual funds, FIIs, and banks.
NII covers bids above Rs 2 lakh (67.22x by applications). Split: SHNI 120.60x, BHNI 40.52x by applications. SHNI and BHNI allotment is by lottery.
At 20.01x subscription by applications, about 1 in 20 retail applicants may get allotment (~5% chance per application). Retail allotment is also by lottery.
Midwest IPO GMP After Subscription
GMP for Midwest IPO stands at Rs 115.00 today, giving an estimated listing price of Rs 1,180.00 per share.
A subscription of 92.36x combined with a GMP of 10.80% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the Midwest IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
Midwest IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 15 October 2025 |
| IPO Close Date | 17 October 2025 |
| Allotment Date | 20 October 2025 |
| Refund Initiation | 21 October 2025 |
| Share Credit to Demat | 21 October 2025 |
| Listing Date | 24 October 2025 |
| Minimum Investment | Rs 14,910.00 |
| Lot Size | 14 shares |
About Midwest IPO
Midwest Ltd. is a four-decade-old natural stone industry specialist, India’s largest producer and exporter of Black Galaxy Granite (holding around 64% of India’s export market share in FY25) and also the largest producer of Absolute Black Granite. The company's core business involves exploration, mining, processing, and export of these premium dimensional stones from its 16 captive granite mines across Telangana and Andhra Pradesh.
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors (SHNI & BHNI)
Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.
Retail - Retail Individual Investors
Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.
Midwest IPO IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Midwest IPO Details
Issue size, price, financials, and company info
Midwest IPO GMP
Live grey market premium and listing estimate
Midwest IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Midwest IPO Allotment
Allotment date, chances, and check by PAN
Midwest IPO Review
SWOT, strengths, risks, and IPO review
Midwest IPO FAQ
Common questions on dates, GMP, and allotment
Midwest IPO Registrar
Registrar website and how to check allotment
Midwest IPO Timeline
Open, close, allotment, and listing dates
Midwest IPO News
Updates, blogs, and latest IPO news
Midwest IPO Subscription FAQs
What is Midwest IPO subscription status today?
Midwest IPO subscription closed on 17 October 2025 with overall subscription of 92.36x (by shares) as of 27 August 2026, 4:32 AM IST. QIB 146.99x, NII 67.22x, Retail 20.01x.
What is the overall subscription of Midwest IPO?
Midwest IPO is subscribed 92.36x overall by shares at close on 17 October 2025. QIB 146.99x, NII 67.22x, and Retail 20.01x.
What is Midwest IPO QIB subscription?
Midwest IPO QIB (Qualified Institutional Buyers) subscription is 146.99x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Midwest IPO Retail subscription?
Midwest IPO Retail subscription is 20.01x by applications. Retail bids are up to Rs 2 lakh per PAN.
What is Midwest IPO NII, SHNI, and BHNI subscription?
Midwest IPO NII subscription is 67.22x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 120.60x and BHNI (above Rs 10L) at 40.52x.
What are Midwest IPO retail allotment chances?
At 20.01x subscription by applications, about 1 in 20 retail applicants may get allotment (~5% chance per application). Allotment is by lottery. Share subscription was 25.49x. Allotment chances use applications, not share volume.
What are Midwest IPO SHNI allotment chances?
At 120.60x subscription by applications, about 1 in 121 SHNI applicants may get allotment (~1% chance per application). Allotment is by lottery. Share subscription was 126.17x. Allotment chances use applications, not share volume.
What are Midwest IPO BHNI allotment chances?
At 40.52x subscription by applications, about 1 in 41 BHNI applicants may get allotment (~2% chance per application). Allotment is by lottery. Share subscription was 201.77x. Allotment chances use applications, not share volume.
When is Midwest IPO allotment date?
Midwest IPO allotment date is 20 October 2025. Check Midwest IPO Allotment Status on IPOwiz from that day using your PAN.
When does Midwest IPO subscription close?
Midwest IPO subscription closed on 17 October 2025. No new applications are accepted after the close.
What is Midwest IPO GMP today?
Midwest IPO GMP is ₹115 today (+10.80% over issue price ₹1,065). See live GMP on the Midwest IPO GMP Today page.
What is Midwest IPO issue price and lot size?
Midwest IPO issue price is ₹1,065 per share. Lot size is 14 shares. Minimum investment is ₹14,910 per lot. Issue size: ₹451.00 Cr.
When is Midwest IPO listing date?
Midwest IPO listing date is 24 October 2025 on NSE and BSE. Allotment is on 20 October 2025.
How does subscription affect Midwest IPO allotment?
In Midwest IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. At 92.36x overall, competition is very high.
For allotment results from 20 October 2025, visit the Midwest IPO Allotment Status page. For listing day updates on 24 October 2025, download the IPOwiz App.
Sources
We match Midwest IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- IPO RegistrarRegistrar details are on the allotment page for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.