Millworks Technologies IPO
LISTEDSMEMILLWORKSListing Performance
▲ 90.00%
Issue Price
₹331
Listing Price
₹629
Listed On
21 Jul 2026
- Price Band
- ₹315 – ₹331
- Lot Size
- 400
- Lot Value
- ₹1,32,400
- Open Date
- 14 Jul14 Jul 2026
- Close Date
- 16 Jul16 Jul 2026
- Min Investment
- ₹1,32,400
About Millworks Technologies
Millworks Technologies Limited is a precision engineering company engaged in manufacturing machined components, sheet metal parts, and integrated assemblies used in mission-critical applications across the railways, aerospace, defence, and semiconductor sectors. The company operates under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, manufacturing products based either on customer drawings or functional and performance requirements. It also undertakes job-work assignments and primarily supplies to original equipment manufacturers (OEMs). Its manufacturing capabilities include precision machining, sheet metal fabrication, sub-assembly, welding, and inspection, supported by four manufacturing facilities in Bengaluru equipped with advanced CNC machines and quality testing infrastructure. The company maintains AS9100D and ISO 9001:2015 certified quality management systems across its facilities. It generates revenue from manufacturing and supplying precision-engineered components, with exports contributing a portion of its revenue through sales to customers across multiple international markets.
Investment Analysis
Quick Analysis: 5 strengths · 5 risk factors· Exchange: BSE SME
Strengths (5)
- •Experienced promoters with deep domain knowledge in precision engineering.
- •The management team has an established execution and operating track record.
- •Proven history of successfully completing customer orders across sectors.
- •Precision manufacturing capabilities across machining, sheet metal fabrication, and sub-assemblies under both Build-to-Print and Build-to-Spec models.
- •Four manufacturing facilities in Bengaluru support production for railways, aerospace, defence, and semiconductor customers.
Risk Factors (5)
- •Revenue has fluctuated significantly in the past and may continue to remain volatile.
- •High trade receivables increase working capital needs and collection risk.
- •Rising raw material prices could adversely affect profitability.
- •The business has high working capital requirements, which may impact operations and liquidity.
- •Changes in the Ministry of Railways’ policies could negatively affect the business.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 193.07x (QIB 194.05x, NII 159.22x, Retail 216.31x) at close
Application Lot Sizes
Retail caps at ₹2,00,000 (1 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 400 | ₹1,32,400 |
| Retail (max) | 1 | 400 | ₹1,32,400 |
| S-HNI (min) | 2 | 800 | ₹2,64,800 |
| S-HNI (max) | 7 | 2,800 | ₹9,26,800 |
| B-HNI (min) | 8 | 3,200 | ₹10,59,200 |
Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | — | 0.22x | 194.05x |
| sNII (S-HNI) | — | — | — |
| bNII (B-HNI) | — | — | — |
| Retail | 15.74x | 71.07x | 216.31x |
| Total | 9.44x | 44.21x | 193.07x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
216.31x
Allotment Ratio
1 lot per 217 applicants
Allotment Probability
~0.5%
Non-Institutional Investors (NII / HNI)
Subscription
159.22x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
194.05x
Allotment Type
Discretionary allotment
Total Subscription
193.07x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
14 Jul 2026 · Tue
Issue Closes
16 Jul 2026 · Thu
UPI Deadline
16 Jul 2026 · Thu
Allotment
17 Jul 2026 · Fri
Refund
20 Jul 2026 · Mon
Share Credit
20 Jul 2026 · Mon
Listing
21 Jul 2026 · Tue
Issue Opens
14 Jul 2026 · Tue
Issue Closes
16 Jul 2026 · Thu
UPI Deadline
16 Jul 2026 · Thu
Allotment
17 Jul 2026 · Fri
Refund
20 Jul 2026 · Mon
Share Credit
20 Jul 2026 · Mon
Listing
21 Jul 2026 · Tue
IPO Details
| Registrar | Purva Sharegistry (India) Private Limited |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | — |
| Issue Size | ₹160.33 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | — |
3-Year Financial Summary
Financial data not available yet.
Check the valuation yourself
Company Fundamentals
Capital Structure
Capital structure not yet available.
Shareholding Pattern
Shareholding pattern not yet available.
Reservations & OFS
Reservation & OFS detail not yet available.
Board & Management
Board & management not yet available.
Industry & Market
Industry & market data not yet available.
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Purva Sharegistry (India) Private Limited→Documents
Frequently Asked Questions
When is the Millworks Technologies IPO opening?
The Millworks Technologies IPO opens on 14 Jul 2026 and closes on 16 Jul 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Millworks Technologies IPO?
The price band for the Millworks Technologies IPO is ₹315 to ₹331. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Millworks Technologies IPO?
The minimum lot size is 400 shares with a minimum investment of ₹1,32,400. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Millworks Technologies IPO today?
The latest Grey Market Premium for Millworks Technologies is ₹380 (+114.80%). GMP is unofficial data and is not a guarantee of listing price.
When will the Millworks Technologies IPO list on NSE and BSE?
The Millworks Technologies IPO is expected to list on 21 Jul 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Millworks Technologies IPO allotment status?
The registrar for this IPO is Purva Sharegistry (India) Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Millworks Technologies IPO a mainboard or SME issue?
Millworks Technologies is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Millworks Technologies IPO?
You can apply for the Millworks Technologies IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of Millworks Technologies IPO?
The GMP-implied price (unofficial, not a forecast) is ₹711: the upper price band of ₹331 plus the latest grey market premium of ₹380, as of 28 Sep 2026, 01:00 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for Millworks Technologies IPO?
Based on the retail subscription of 216.31x, the estimated allotment ratio is 1 lot per 217 applicants (approximately 0.5% chance of allotment). This is an estimate and actual allotment may vary.
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