New Delhi, Oct. 17 -- The initial public offering (IPO) of Midwest received a robust response from investors during its bidding period, with the issue being subscribed over 90 times by the end of Day 3. Strong demand came particularly from institutional investors.

The Midwest IPO, which ran from October 15 to 17, received bids for 27.40 crore shares against the 27.67 lakh shares on offer, resulting in a subscription rate of 92.36 times.

Non-institutional buyers also showed strong interest, with their portion subscribed 176.57 times, as they placed bids for 11.18 crore shares compared with the allotted 6.33 lakh shares. The QIB segment reflected similar enthusiasm, with its portion booked 146.99 times.

The retail quota was subscribed 25...