Comparison between Midwest IPO and Vikram Solar IPO.
Midwest IPO is a Mainboard Bookbuilding IPO proposed to list at BSE, NSE while Vikram Solar IPO is a Mainboard Bookbuilding proposed to list at BSE, NSE.
The total issue size of Midwest IPO is up to ₹451.10 Cr whereas the issue size of the Vikram Solar IPO is up to ₹2,079.37 Cr. The final issue price of Midwest IPO is ₹1,065.00 per share and of Vikram Solar IPO is ₹332.00 per share.
| Midwest IPO | Vikram Solar IPO | |
|---|---|---|
| Face Value | ₹5 per share | ₹10 per share |
| Issue Price (Lower) | ₹1,014.00 per share | ₹315.00 per share |
| Issue Price (Upper) | ₹1,065.00 per share | ₹332.00 per share |
| Issue Price (Final) | ₹1,065.00 per share | ₹332.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ₹101.00 per share | |
| Market Lot Size | 14 shares | 45 shares |
| Fresh Issue Size | 23,48,401 shares | 4,51,80,722 shares |
| Fresh Issue Size (Amount) | up to ₹250.10 Cr | up to ₹1,500.00 Cr |
| OFS Issue Size | 18,87,323 shares | 1,74,50,882 shares |
| OFS Issue Size (Amount) | up to ₹201.00 Cr | up to ₹579.37 Cr |
| Issue Size Total | 42,35,724 shares | 6,26,31,604 shares |
| Issue Size Total (Amount) | up to ₹451.10 Cr | up to ₹2,079.37 Cr |
Midwest IPO opens on Oct 15, 2025, while Vikram Solar IPO opens on Aug 19, 2025. The closing date of Midwest IPO and Vikram Solar IPO is Oct 17, 2025, and Aug 21, 2025, respectively.
| Midwest IPO | Vikram Solar IPO | |
|---|---|---|
| Anchor Bid Date | Oct 14, 2025 | Aug 18, 2025 |
| Issue Open | Oct 15, 2025 | Aug 19, 2025 |
| Issue Close | Oct 17, 2025 | Aug 21, 2025 |
| Basis Of Allotment (Tentative) | Oct 20, 2025 | Aug 22, 2025 |
| Initiation of Refunds (Tentative) | Oct 23, 2025 | Aug 25, 2025 |
| Credit of Share (Tentative) | Oct 23, 2025 | Aug 25, 2025 |
| Listing date (Tentative) | Oct 24, 2025 | Aug 26, 2025 |
| Anchor Lockin End date 1 | Nov 18, 2025 | Sep 20, 2025 |
| Anchor Lockin End date 2 | Jan 17, 2026 | Nov 19, 2025 |
Midwest IPO P/E ratio is 27.01, as compared to Vikram Solar IPO P/E ratio of 75.16.
| Midwest IPO | Vikram Solar IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated Consolidated)Midwest Ltd.'s revenue increased by 7% and profit after tax (PAT) rose by 33% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Consolidated)Vikram Solar Ltd.'s revenue increased by 37% and profit after tax (PAT) rose by 75% between the financial year ending with March 31, 2025 and March 31, 2024.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 88.07 | 77.64 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 77.13 | 63.11 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 27.01 | 75.16 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹3851.02 Cr. | ₹12009.01 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 19.42% | 16.57% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 18.84% | 24.49% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.43 | 0.19 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹39.42 | ₹4.42 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 22.11% | 11.26% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Midwest IPO Retail Individual Investors (RII) are offered 14,78,873 shares while in Vikram Solar IPO retail investors are offered 14,78,873 shares. Qualified Institutional Buyers (QIB) are offered 8,45,070 shares in Midwest IPO and 1,24,66,080 shares in Vikram Solar IPO.
| Midwest IPO | Vikram Solar IPO | |
|---|---|---|
| Anchor Investor Reservation | 12,67,605 shares | 1,86,99,120 shares |
| Market Maker Reservation | 0 shares | 0 shares |
| QIB | 8,45,070 shares | 1,24,66,080 shares |
| NII | 6,33,803 shares | 93,49,560 shares |
| RII | 14,78,873 shares | 2,18,15,640 shares |
| Employee | 10,373 shares | 3,01,204 shares |
| Others | ||
| Total | 42,35,724 shares | 6,26,31,604 shares |
Midwest IPO subscribed 92.36x in total, whereas Vikram Solar IPO subscribed 56.42x.
| Midwest IPO | Vikram Solar IPO | |
|---|---|---|
| QIB (times) | 146.99x | 145.10x |
| NII (times) | 176.57x | 52.87x |
| Big NII (times) | 201.77x | 59.58x |
| Small NII (times) | 126.16x | 39.46x |
| RII (times) | 25.52x | 7.98x |
| Employee (times) | 25.80x | 5.10x |
| Other (times) | ||
| Total (times) | 92.36x | 56.42x |
