Millworks Technologies IPO Logo

Millworks Technologies IPO
GMP, Subscription, Price, Dates & Financial Details

Engineering - Industrial Equipments

Closed BSE SME

Millworks Technologies Limited is a precision engineering company engaged in the manufacturing of high-accuracy machined components, sheet metal parts, and integrated assemblies for mission-critical applications across the aerospace, defence, railways, and semiconductor industries. The company…

Open Date

Tue, 14 Jul 2026

Close Date

Thu, 16 Jul 2026

Price Band

₹ 315 – 331

Lot Size

400

Issue Size

₹ 160.00 Cr

Minimum Investment

₹ 264,800 (800 Shares)

Grey Market Premium Analysis

Day Wise GMP→

Unofficial premium quoted in the grey market, tracked daily against the price band cap.

09 Jul ₹350 08 Jul ₹350 10 Jul ₹350 11 Jul ₹390 12 Jul ₹395 13 Jul ₹300 14 Jul ₹300 15 Jul ₹400 16 Jul ₹380 17 Jul ₹400

Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.

IPO Details

Millworks Technologies IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹160 Crore, comprising a fresh issue of 44.20 Lakh equity shares aggregating to ₹146.00 Crore.

The Millworks Technologies IPO remained open for subscription from July 14, 2026, to July 16, 2026. The basis of allotment was finalized on July 17, 2026, and the company's shares were listed on BSE SME Platform on July 21, 2026.

The company had fixed the price band at ₹315 to ₹331 per share, with a lot size of 400 shares. Retail investors were required to make a minimum investment of ₹264,800 (based on the upper price band) to apply for one lot.

Purva Sharegistry India Pvt Ltd served as the registrar to the issue. GYR Capital Advisors Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.

With the successful completion of the IPO process, Millworks Technologies Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.

Millworks Technologies IPO Timeline (Tentative)

IPO Open Date
Tue, 14 Jul 26
IPO Close Date
Thu, 16 Jul 26
Basis of Allotment
Fri, 17 Jul 26
Initiation of Refunds
Mon, 20 Jul 26
Credit of Shares to Demat
Mon, 20 Jul 26
Listing Date
Tue, 21 Jul 26 — NSE & BSE

Open Date

14 July 2026

Close Date

16 July 2026

Basis Of Allotment

17 July 2026

Listing Date

21 July 2026

IPO Subscription

Check Live Subscription →

The Millworks Technologies IPO has received bids for 67,98,64,800 shares against 30,94,800 shares offered, resulting in an overall subscription of 219.68x. the NII category is subscribed 261.01x, Retail Investors 216.6x, and QIBs 194.05x. Within the NII category, BNII is subscribed 290.8x, while SNII is subscribed 201.44x.

QIB

194.05x

NII

261.01x

BNII

290.8x

SNII

201.44x

RII

216.6x

Total

219.68x

IPO Reservations

The Retail Individual Investor (RII) category has the highest allocation with 15,47,200 shares, representing 49.99% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 8,84,000 shares (28.56%), while Non-Institutional Investors (NIIs) receive 6,63,600 shares (21.44%).

Category Shares Offered Shares Offered
Qualified Institutions884,00028.56%
Non-Institutional663,60021.44%
BNII442,40014.29%
SNII221,2007.15%
Retail Investors1,547,20049.99%
Total3,094,800100%

Financials Details(₹ in Crores)

Particular 31 Mar 2026 31 Mar 2025 31 Mar 2024
Assets 198.37 39.82 10.54
Revenue 153.4 22.42 9.4
Profit After Tax 37.06 5.25 1.95
Net Worth 82.67 23.31 2.33
Reserve & Surplus 69.9 23.25 2.28
Total Borrowings 17.02 9.63 4.57

Financials Performance

Company Revenue Vs Profit After Tax
153 37 31 Mar 2026 22 5 31 Mar 2025 9 2 31 Mar 2024 Revenue PAT

Performance Indicators

29.02%

EPS Pre

Earnings per share before the IPO.

11.40

P/E Pre

IPO Offer Price ÷ EPS Pre.

21.04%

EPS Post

Expected earnings per share after the IPO..

15.73x

P/E (Post Issue)

IPO Offer Price ÷ EPS Post.

Millworks Technologies Limited KPI Information

Particular Mar 2026 Mar 2025 Mar 2024
ROE % 69.94 40.94 144.46
ROCE % 56.44 23.02 38.61
Debt / Equity 0.21 0.41 1.96
RoNW % 44.83 22.52 83.88
Pat Margin % 24.91 23.75 20.82

Peers Comparison

Company Face Value PE Ratio EPS Basic EPS Diluted RoNW Net Assets
Millworks Technologies Ltd10030.6730.6744.8364.73
Unimech Aerospace and Manufacturing Ltd587.8712.4412.428.58144.99
Azad Engineering Ltd 296.4520.5720.578.74236.74

About Millworks Technologies Limited

Millworks Technologies Limited is a precision engineering company engaged in the manufacturing of high-accuracy machined components, sheet metal parts, and integrated assemblies for mission-critical applications across the aerospace, defence, railways, and semiconductor industries. The company primarily caters to Original Equipment Manufacturers (OEMs) and industrial customers through its expertise in precision manufacturing and engineering solutions.

The company operates under both Build-to-Print (BTP) and Build-to-Spec (BTS) business models. Under the BTP model, components are manufactured strictly according to customer-provided drawings and technical specifications, while the BTS model focuses on developing components based on customer-defined functional and performance requirements. In addition, Millworks undertakes full-scope manufacturing and job-work assignments.

Its diversified product portfolio includes:

  • Aerospace: Precision-machined components and sub-assemblies for aero-engine applications, including turbine blades, nozzle components, fuel filter screens, and turbocharger parts.
  • Defence: Components such as missile airframe structures, guidance system housings, drone structures, BLDC motor parts, hydraulic cylinder components, structural brackets, mounts, and anti-drone system housings.
  • Railways: Precision components used in braking systems, automated train and metro door mechanisms, pantographs, train couplers, actuators, and rolling stock infrastructure.
  • Semiconductor Machinery: Precision-engineered components and fixtures for semiconductor manufacturing and testing equipment, including machine base frames, alignment plates, precision brackets, mounts, and equipment housings.

The company operates four advanced manufacturing facilities in Bengaluru, Karnataka, equipped with modern manufacturing infrastructure such as 3-axis, 4-axis, and 5-axis CNC machining centres, CNC turning and turn-mill centres, wire EDM machines, fibre laser cutting systems, CNC press brakes, welding stations, and dedicated assembly and inspection facilities. As of 30 April 2026, Millworks Technologies employed 161 personnel.

Competitive Strengths

  • Expertise in precision engineering and manufacturing of complex components across a wide range of materials.
  • Certified quality management systems ensuring consistent manufacturing standards.
  • Comprehensive manufacturing infrastructure with advanced machining and fabrication capabilities.
  • Long-standing relationships with global customers and a strong export-oriented business model.
  • Dedicated research and development capabilities supporting product and process innovation.
  • Experienced management team supported by a skilled technical workforce.
  • Strong order book of ₹9,594.45 lakh as of 10 January 2026, providing healthy revenue visibility.

Millworks Technologies has established itself as a reliable precision engineering partner by combining advanced manufacturing capabilities, stringent quality standards, and diversified exposure across high-growth sectors such as aerospace, defence, railways, and semiconductor equipment manufacturing.

Millworks Technologies IPO Promoters

  1. Mr. Sridhar Acharya
  2. Mr. H K Madhu
  3. Mrs. Sowmya Madhu
  4. Mrs. Rashmi Sridhar Acharya
Promoters Holding

Holding Pre Issue

65.08%

Holding Post Issue

0.00%

Millworks Technologies IPO Objective

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects.

  1. Funding capital expenditure of our company to purchase Plant and Machinery 
  2. Funding of the working capital requirement of our Company 
  3. General corporate purposes 

Millworks Technologies Limited Address / Contact Details

Millworks Technologies Ltd.
No.458/1, 10th a Cross, Phase-4,
Peenya Industrial Area, Peenya Small Industries
Bangalore Urban, Karnataka, 560058
Email-id:cs@millworksindia.com
Tel.: +91 9187045959
Website:https://millworksindia.com/

IPO Snapshot

Face Value₹10 per share
Price Band ₹ 315 – 331
Lot Size400
Issue TypeBook-building IPO
Sale TypeFresh Capital
Fresh Issue₹ 146.00 Cr
Offer for Sale₹ 0.00 Cr
Total Issue Size₹ 160.00 Cr
Listing AtBSE

Millworks Technologies IPO Lot Size

The Millworks Technologies IPO has a lot size of 400 shares. Retail investors require a minimum investment of ₹2,64,800 by applying for 2 lot (800 shares). The maximum application allowed for the retail category is 2 lots (800 shares), requiring an investment of ₹2,64,800.

Application Lots Shares Amount (₹)
Retail (Min)2800264,800.00
Retail (Max)2800264,800.00
S-HNI (Min)31,200397,200.00
S-HNI (Max)72,800926,800.00
B-HNI (Min)83,2001,059,200.00

Issue Reservation

  • QIB — 28.56%
  • NII — 21.44%
  • RII — 49.99%

Millworks Technologies IPO Registrar

Purva Sharegistry India Pvt Ltd

91 22 3522 0056 , 91 22 4961 4132

support@purvashare.com

https://www.purvashare.com

Check Allotment Status

Book Running Lead Managers

  • GYR Capital Advisors Private Limited

IPO Documents & Links

Explore More IPOs

Disclaimer: This data is for informational purposes only and does not constitute investment advice.

Frequently Asked Questions

Everything you need to know before applying to an IPO.

What is the Millworks Technologies IPO?

Millworks Technologies IPO is a Book-building IPO with a total issue size of ₹160 crore. The Millworks Technologies IPO price band is ₹315 to 331 per share. The Millworks Technologies IPO subscription opens on Tue, Jul 14, 2026, and closes on Thu, Jul 16, 2026. The Millworks Technologies IPO will be listed on the BSE. Purva Sharegistry India Pvt Ltd is the registrar for the Millworks Technologies IPO.

When will the Millworks Technologies IPO open for subscription?

The Millworks Technologies IPO opens on Tue, Jul 14, 2026 and closes on Thu, Jul 16, 2026

What is Millworks Technologies IPO Price Band?

Millworks Technologies IPO Price Band is ₹315 to 331 per share.

What is Millworks Technologies IPO Lot Size?

Millworks Technologies IPO lot size is 400 shares, Retail investors need a minimum investment of ₹264800 based on the upper price band

What is the minimum investment for Millworks Technologies IPO?

The minimum investment for Millworks Technologies IPO is ₹264800, based on one lot of 400 shares at the upper price band of ₹331 per share.

How to apply for Millworks Technologies IPO?

Investors can apply for the Millworks Technologies IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Thu, Jul 16, 2026. The application amount remains blocked until the Millworks Technologies IPO allotment is finalized.

What is Millworks Technologies IPO Issue Size?

Millworks Technologies IPO issue size is ₹160 crores.

What is the Millworks Technologies IPO Allotment Date?

Millworks Technologies IPO allotment date is Fri, Jul 17, 2026.

Who is the Millworks Technologies IPO Registrar?

The registrar for Millworks Technologies IPO is Purva Sharegistry India Pvt Ltd. Investors can go to Purva Sharegistry India Pvt Ltd website to check Millworks Technologies IPO allotment status, refund processing, and other IPO-related information.

What is the Millworks Technologies IPO GMP?

The Millworks Technologies IPO GMP (Grey Market Premium) is ₹350 as of Thu, Jul 9, 2026. Based on the upper price band of ₹331 per share, the estimated Millworks Technologies IPO listing price is ₹681, indicating a potential listing gain of approximately 105.74% over the issue price.

Who is the Millworks Technologies IPO Lead Manager?

The book-running lead managers (BRLMs) for the Millworks Technologies IPO are . The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Millworks Technologies IPO Red Herring Prospectus (RHP).