Midwest share price traded lower after making a strong debut in the stock market today. Midwest IPO listing date was today, October 24, and the shares have been listed on the BSE and NSE.
Midwest shares got listed on Friday at ₹1,165 on both the BSE and the National Stock Exchange (NSE), a premium of 9.39% to the issue price of ₹1,065 per share.
After the debut, Midwest shares rose 2.09% to a high of ₹1,189.50 apiece on the BSE and hit a high of ₹1,190.00 apiece on the NSE. However, the stock came under selling pressure and fell as much as 3.56% to a low of ₹1,123.60 apiece on the BSE.
Midwest IPO listing today was largely in line with the Street expectations as signalled by the grey market premium (GMP). Midwest IPO GMP today was ₹115 ahead of the listing, signalling a strong debut of nearly 11%.
Should you buy, hold or sell Midwest shares after listing?
Midwest Ltd’s solid financial performance, with revenue rising to ₹626 crore and PAT up 145% to ₹133 crore in FY25 — highlights robust growth and margin expansion to 27.4%.
“Holding a 64% share in India’s Black Galaxy Granite exports and expanding into quartz production, Midwest is well-positioned for its next growth phase. Its focus on renewable energy and sustainability strengthens its global appeal. Despite trading at a premium valuation of ~27x FY25 earnings versus peers, its superior profitability and resource control justify the pricing,” said Gaurav Garg, Research Analyst at Lemonn Markets Desk.
Overall, he believes the firm listing and strong fundamentals suggest healthy long-term prospects.
Midwest IPO was open from October 15 to 17, and was subscribed 87.89 times in total. The company raised ₹451 crore from the public issue.
Dam Capital Advisors is the book running lead manager and Kfin Technologies is the Midwest IPO registrar.
At 2:35 PM, Midwest share price was trading at ₹1,134.50 apiece on the BSE, down 2.63% from listing price, and up 6.53% from the IPO price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
