The GMP trends can give investors an idea of how the unlisted shares are trading on the private market. (Photo source: Gemini AI) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The grey market premium (GMP) for the IPO of Midwest Ltd., a Hyderabad-based natural stone company, surged on Thursday after the mainboard issue was fully subscribed on the first day.

The company, which launched its Initial Public Offering (IPO) on October 15, is a book-built issue valued at Rs 451 crore. This includes a fresh issue of 0.23 crore shares worth Rs 250 crore and an offer for sale (OFS) of 0.19 crore shares worth Rs 201 crore.

The IPO saw an oversubscription of around 2 times on Day 1, led by demand from non-institutional investors.

The unlisted shares of Midwest Limited were tradin

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