Midwest IPO Day 1: Latest GMP, subscription status to review. Should you apply or not?

Midwest IPO subscription, initial public offering of the Telangana firm begins on October 15 and ends on October 17. Midwest IPO price band is between £ 1.014 and £ 1.065 per share for its total of £ 451 crore. Midwest IPO GMP today is £ 145. This indicates the price of the Midwest Life share price at a premium of £ 145 in the Gray Market Wednesday, according to Investorgain.com. Quartz Processor Midwest, recognized as India’s leading producer of Black Galaxy and Absolute Black Granite, collected a £ 135 from Anchor Investors before the initial public offering, on October 14. Striking institutions participating in the anchor investment include Goldman Sachs Funds – specifically the Goldman Sachs India Equity Porfolio and Edelweiss Life Insurance Company. Midwest IPO has allocated 50% of the shares in the public offer for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and at least 35% for retail investors. In addition, shares are reserved for employees amounting to up to 1 crore. The company focuses on exploring, mining, processing, marketing, distribution and execution of natural stones, and prioritizing sustainable methods. Midwest is also one of the largest producers of absolute black granite, known for the remarkable surface quality, both of which have great demand. The production of absolute black granite accounted for 10.8% of India’s total black granite outputs in fiscal 2024. Midwest IPO subscription status subscription for the public edition will open during Wednesday’s offers at 10:00. Midwest IPO Review SBICAP Securities noted that Midwest stands as the largest producer and exporter of Black Galaxy Granite in India. The company showed a robust Cagr in turnover/ebitda/adj.pat of about 11.6%/38.5%/40.5%and reached £ 626 crore/£ 172 and £ 108 respectively from FY23 to FY25. With the upper price tape at £ 1,065, the IPO is priced at a FY25 p/e and EV/Ebitda ratio of 35,8x and 22,4x respectively, based on capital to the expenses. Although the company works in a capital -intensive sector, it achieves Roe/Roce of 17.4% and 19.1% respectively. However, compared to peers, the problem provides a premium valuation. The broker has a neutral stance on the offer and intends to observe the performance of the business after the listing. Midwest IPO details The firm plans to raise £ 250 crore by issuing new shares while its promoters – Collareddy Rama Raghava Reddy and Guntaka Ravindy – Sale shares worth up to £ 201 by a presentation. The initial value of the IPO has been reduced from £ 650 crore as the company changed its offer-for-selling rate to £ 201 crore, lower than the previously indicated £ 400 crore. The funds obtained from the offer-for-sale are entirely to the sale of shareholders. The promoters have 95.83 percent of the company’s shares, with the remaining 4.17 percent held by Svadha India Emerging Opportunity Scheme 1. Svadha India acquired 14.08 Lakh shares (equivalent to a 4.17 percent stake) in Midwest for £ 100 crore at a price of £ 709.80 per share at 28 September, 2024. Intensive fiscal services and Motilal Owal Investment Advisors, with KFIN Technologies Ltd serving as the registrar of the offer. Midwest IPO GMP Today Midwest IPO GMP today is £ 145. This indicates that the Midwest share price is trading at a £ 145 premium in the Gray Market on Wednesday, according to Investorgain.com. Taking into account the top of the IPO price band and the current premium in the Gray market, the estimated listing price of Midwest share price is indicated at £ 1,210 each, which is 13.62% higher than the £ 1,065 IPO price. According to the Gray Market activities over the past six sessions, the IPO GMP is upwards today, indicating that a robust listing is expected. The minimum GMP recorded is £ 0.00, while the maximum reaches £ 145, according to the judgments of experts. ‘Gray Market Premium’ indicates investors’ readiness to pay more than the issue price. Midwest IPO Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.