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Midwest IPO: Investors are investing a lot of money in Midwest IPO. Its gray market premium (Midwest IPO GMP) is also continuously increasing. The view of brokerage houses is also positive towards this issue. This IPO will close today.
The price band of Midwest IPO has been fixed at ₹ 1,014 to ₹ 1,065 per share. Midwest IPO: Investors have invested heavily in the ₹451 crore IPO of Mineral Processing Company Midwest Limited. This IPO has been filled 12.34 times in just two days. Today is the last day to invest money in the issue. The category of Midwest IPO reserved for retail investors is subscribed 8.63 times, the QIB portion is subscribed 1.93 times and the NII category is subscribed 34.89 times. It was completely subscribed on the very first day. The company had raised ₹135 crore from anchor investors a day before the bidding opened for the public. Even in the gray market, unlisted shares of Midwest IPO are making waves and are trading at a premium of 13.61 percent.
what does the company do
Telangana based Midwest Limited is associated with the natural stone industry. The company is now moving beyond granite and is also entering into the quartz processing and rare earth elements processing segment. The company operates 16 granite quarries in Telangana and Andhra Pradesh.
Midwest IPO GMP
There is a lot of enthusiasm regarding Midwest shares in the IPO market. According to IPOwatch, today the GMP (Grey Market Premium) of Midwest IPO is running at ₹145. Experts believe that strong subscription and recovery of the stock market on Wednesday have created positive sentiment in the gray market. The allotment of shares of Midwest IPO is expected to take place on October 20, while the listing of shares is to take place on October 24.
Should you invest money?
According to a report by Live Mint, BP Equities has given “Subscribe” rating to the Midwest IPO. The brokerage says the company’s strong market position and growing global demand for natural and engineered stones present an attractive opportunity for investors. Ventura Securities has also given the “Subscribe” tag to the IPO. The brokerage says Midwest’s strategy to increase production capacity, expansion of quartz and heavy mineral mining and rare earth mineral licenses makes it strong for the long term.
(Disclaimer: Investment in IPO is subject to market risks. If you want to invest money in IPO, then first consult a certified investment advisor. AyraNews24x7 will not be responsible for any profit or loss you may incur.)
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