The initial public offering of Midwest Wafers has taken the Indian primary market by storm, emerging as one of the most sensational IPOs in recent times. With overwhelming investor response and skyrocketing gray market premiums, this public issue has become the talk of Dalal Street.
Record-Breaking Subscription Numbers
Midwest Wafers IPO witnessed an electrifying response from investors across all categories. The overall subscription closed at a staggering 324.02 times, reflecting massive investor confidence in the company's prospects. The breakdown reveals even more impressive numbers:
- Retail Investors: 121.47 times subscription
- Non-Institutional Investors (NII): 511.57 times subscription
- Qualified Institutional Buyers (QIB): 475.97 times subscription
Gray Market Premium Signals Strong Listing
The gray market premium (GMP) for Midwest Wafers shares has surged to ₹90 per share, indicating extremely bullish market sentiment. This represents a premium of approximately 105% over the IPO price band of ₹86-₹90 per share. Market observers predict a blockbuster listing with potential gains of 90-100% for successful allottees.
IPO Details and Timeline
The ₹54 crore public issue, which ran from December 26 to December 28, 2023, comprised a fresh issue of 60 lakh shares. Midwest Wafers, established in 1994, specializes in manufacturing cereal-based snack foods including wafers, extruded snacks, and cookies.
Key Dates to Remember
- Allotment Finalization: Expected on January 2, 2024
- Refund Initiation: January 3, 2024
- Share Credit: January 4, 2024
- Listing Date: Tentatively January 5, 2024 on NSE SME
How to Check Allotment Status
Investors can check their IPO allotment status through multiple channels:
- Registrar's website: Bigshare Services Pvt Ltd
- NSE website under the 'IPO allotment' section
- Direct links provided by brokerage platforms
Using PAN number and application details, investors can verify their share allocation status once the basis of allotment is finalized.
Market Outlook and Expert Views
Market analysts attribute the overwhelming response to Midwest Wafers' strong fundamentals, reasonable valuation, and growing demand in the snack food industry. The company's established distribution network and diverse product portfolio have positioned it well for future growth.
"The exceptional subscription numbers and premium GMP reflect strong investor appetite for fundamentally sound SMEs. Midwest Wafers' listing is likely to deliver handsome returns to investors given the current market momentum," commented a market expert.
As the countdown begins for the official listing, all eyes are on the NSE SME platform where Midwest Wafers shares are expected to make a spectacular market debut, potentially rewarding investors with significant listing gains.
