Midwest IPO News: Next week on October 15, the initial public offer (IPO) of Midwest Limited, a quartz manufacturing company for solar glass and engineered stone industry, is coming in the Indian stock market. For this, the price band has been fixed by the company. The price band of the company’s shares has been fixed between Rs 1014 and Rs 1065. The company plans to raise Rs 451 crore through IPO.
The face value of the company’s shares is Rs 5. Investors can bet on the IPO between October 15 and October 17. At the same time, October 14 has been fixed for anchor investors. In this IPO, the company will issue fresh shares worth Rs 250 crore and offer for sale worth Rs 201 crore. However, initially the size of the company IPO was fixed at Rs 650 crore. But the company reduced the offer for sale portion to Rs 201 crore. Which was earlier fixed at Rs 400 crore.
The company has reserved shares for retail investors.
The company has kept 35 percent of the total offer size for retail investors. However, Midwest Limited is preparing to give 50 percent of its total offer to qualified institutional buyers. 15 percent share will be issued to non-institutional investors. Keeping in mind its employees, the company has also reserved shares worth up to Rs 1 crore.
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