Midwest IPO: Steps To Check Allotment Status of Mining Company's Public Issue On NSE, BSE

Midwest IPO (Midwest) closed with strong demand on October 17. The mainboard issue was booked over 87 times on the final day of subscription. After the closing of the bidding window, the Midwest IPO share allotment status will be finalised on October 20.

Midwest IPO Subscription Details

Midwest IPO was oversubscribed 87.89 times as investors across categories applied for 273.9 million shares compared to the 3.11 million shares offered for subscription. Midwest IPO's retail portion was subscribed 24.26 times as investors placed bids for over 37.59 million shares against the 1.55 million shares set aside for the category.

Non-Institutional Investors (NIIs) led the demand for the mining company's shares by applying for over 111.8 million shares against the 6,65,681 shares set aside for the category, leading to a subscription of 168.07 times.

The Qualified Institutional Buyers (QIBs) booked their quota in the Midwest IPO at 139.87 per cent. The QIBs applied for more than 124.1 million shares against 8,87,572 shares reserved for them.

Employees of the company subscribed to the natural stone exporter's public issue 24.44 times by bidding for 2,67,694 shares compared to the 10,952 shares offered for subscription.

Midwest IPO Allotment

Midwest IPO applicants can check their share allotment status on the Kfin Technologies Pvt Ltd website. Investors can also check the Midwest IPO allotment on the BSE and NSE websites.

Steps To Check Midwest IPO Allotment On NSE

• Visit the NSE website via this link

  https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

• Select the 'Equity & SME IPO bid details' option from the list

• Choose 'Midwest' from the dropdown list shown on screen

• Type in your IPO application number

• Click on the 'submit' button

• The status of your application will be displayed

Steps To Check Midwest IPO Allotment Status On BSE

• Go to the BSE's IPO application status viewing page using this link

  https://bseindia.com/investors/appli_check.aspx.

• 'Issue Type' menu will pop up on your screen

• Choose 'Equity' from the menu shown on screen

• Choose 'Midwest' from the list of IPOs

• Input your IPO application number or PAN details

• Select 'Search'

• Your results will be shown on screen

How To Check Midwest IPO Allotment On Kfin Technologies

• Go to the Kfin Technologies' IPO website page using this link

  https://ris.kfintech.com/ipostatus/

• Choose one of the links from the five choices displayed on screen

• Select 'Midwest' from the dropdown menu.

• In this step, you have to enter your PAN, application number, or DP/Client ID.

• Click the 'Submit' button to see your share allotment status.

Midwest IPO GMP

Following the closure of its bidding window, Midwest shares commanded a grey market premium ranging between Rs 110 and Rs 145 apiece, according to websites that track grey market activities. Midwest IPO price band ranges between Rs 1014 to Rs 1065. At the higher end of the price band Midwest's shares can list with potential gains of Rs 1,210 apiece on the NSE with gains of 13.1 per cent.

Midwest IPO Details

Midwest aims to raise Rs 451 crore through its public issue. Midwest IPO consists of a fresh issuance of 2.3 million shares aggregating to Rs 250 crore. The issue also has an offer for sale component of 1.9 million shares amounting to Rs 201.00 crore.

The Midwest IPO issue price was set between Rs 1014 to Rs 1065 per share. The application size for retail investors interested in applying for Midwest IPO is one lot or 14 shares, aggregating to an investment of Rs 14,910.

Midwest IPO Listing date

Subsequent to the finalisation of the share allotment status of Midwest IPO, refunds will be initiated for unsuccessful applicants on October 23. Successful applicants will receive shares of Midwest Ltd in their demat accounts on October 23 as well. Shares of the mining company will debut on the NSE and BSE. Midwest shares will make their Dalal Street debut on October 24.

Midwest IPO: Objective

Midwest Ltd seeks to use the proceeds of the public issue for funding capital expenditure such as the setting up of the second phase of its quartz processing plant. The funds generated via the public issue will also be used for buying electric dump trucks and integration of solar energy at the company's factories. A portion of the proceeds will also be used for payment of borrowings and general corporate purposes.