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IPO Index
Sanjay Bambhaniya July 8, 2026
SME Book Build UPCOMING

Millworks Technologies SME IPO Details 2026

Price ₹315 - ₹331 Size ₹160.34 Cr Lot 800 Share Sector Heavy Electrical Equipment
DRHP Filed Feb 16, 26
Opens Jul 14, 26
Closes Jul 16, 26
Allotment Jul 17, 26
Listing Jul 21, 26
ISSUE OPENJuly 14, 2026 Fresh Issue
ISSUE CLOSEJuly 16, 2026 Min 2 lots (retail)
ALLOTMENT DATEJuly 17, 2026 Lot Size: 800 Share
LISTING DATEJuly 21, 2026 BSE SME
IPO DETAILS REVIEW GMP SUBSCRIPTION ALLOTMENT STATUS

Millworks Technologies

Company overview & key insights

The Millworks Technologies IPO size is ₹160.34 crore. This is a fresh issue of ₹160.34 crore. It is a book building issue. The IPO issue opens on July 14, 2026. The issue closes on July 16, 2026. The share allotment is expected on July 17, 2026. The listing date is July 21, 2026. Millworks Technologies Ltd. is based in Bengaluru and operates in the Engineering sector. It filed its DRHP on February 16, 2026. It will list its shares on BSE SME. Purva Sharegistry (India) Pvt.Ltd. is the registrar. GYR Capital Advisors Pvt.Ltd. serves as the merchant banker for the offer.

Millworks Technologies — a Karnataka-based Heavy Electrical Equipment company — is entering the market with a ₹160.34 Cr IPO to fund further expansion and working capital needs.

Millworks-technologies-sme-ipo

IPO Highlights

Key details & important dates

IPO Details

Total Issues ₹160.34 Cr
Fresh Issue ₹160.34 Cr
Offer for Sale -
IPO Price Band ₹315 - ₹331
Face Value ₹10 per share
Lot Size 800 Share
Listed On BSE SME

IPO Dates

DRHP Filed February 16, 2026
Issue Open July 14, 2026
Issue Close July 16, 2026
Allotment Date July 17, 2026
Refunds Initiation July 20, 2026
Credit of Shares July 20, 2026
Listing Date July 21, 2026

Stay up-to-date with all IPO details. Do not miss any deadlines & avoid missed investment opportunities.

IPO Alert

IPO Issue Structure

Reservation & Lot Size Details

The company has reserved shares for various investor categories. The Retail Shares reservation is not less than 35% (— shares). The QIB has not more than 50% (—). Further, the minimum lot size is 800 shares. The anchor investor reservation is —% (— shares). The market maker reservation is —% (4,24,000 shares).

IPO Reservation

QIB 22,09,200
Anchor Investor 13,25,200
QIB (Ex. Anchor) 8,84,000
NII (HNI) 6,63,600
bNII > ₹10L 4,42,400
sNII < ₹10L 2,21,200
Retail 15,47,200
Employee –
Shareholder –
Market Maker 4,24,000
Total 48,44,000

IPO Lot Size

Retail (Min)
2 | 800 Shares
₹2,64,800
Small Investor Quota
Retail (Max)
2 | 800 Shares
₹2,64,800
Retail Investment Limit
S-HNI (Min)
3 | 1,200 Shares
₹3,97,200
Small HNI (₹2L – ₹10L)
S-HNI (Max)
7 | 2,800 Shares
₹9,26,800
Small HNI (Up to ₹10 L)
B-HNI (Min)
8 | 3,200 Shares
₹10,59,200
Big HNI (Above ₹10L)
Zerodha Apply Now Upstox Apply Now Angel One Apply Now

Tip: Determine your investment budget and your exact allotment chances based on your investor category.

Investment Guide

IPO Documents & GMP

Prospectus & Grey Market Premium

On February 16, 2026 the company filed its Draft Red Herring Prospectus. The Red Herring Prospectus is available to understand the business operations, financials, and the risks involved.

DRHP Document Draft Red Herring Prospectus
RHP Document Red Herring Prospectus

IPO GMP

Live

The Grey Market Premium indicates the extra price that people pay in the unofficial market. This value changes daily based on demand for the shares.

Track live GMP Today

Financial Performance (₹ in Cr)

Period Ended30 Nov 202531 Mar 202531 Mar 202431-Mar-2023
Total Income68.0222.429.41.78
Profit After Tax20.55.251.950.33
EBITDA30.697.892.780.45
Net Worth56.8223.322.330.38
Assets115.8340.8410.643.79
Total Debt16.679.634.572.3

Key Performance Indicator

Particulars30-Nov-25FY25FY24FY23
EBITDA Margin (%)46.7135.729.6425.42
PAT Margin (%)31.223.7620.7918.64
EPS (₹)16.895.041.940.33
ROE (%)36.0822.5183.6986.84
ROCE (%)42.2423.0338.616.01
ROA (%)17.712.8618.338.73
Debt to Equity (x)0.290.411.966.05

To understand the above financial ratios / financial performance metrics as per the Draft Red Herring Prospectus.

Millworks Technologies SME IPO Review

You must look at the financial position of the company before deciding on the investments. You can read our full review article here.

Read Full Review

IPO Financial Snapshot

Objectives & Key Metrics

IPO Objectives

Funding capital expenditure to purchase Plant and Machinery ₹61.03 Cr.
Funding working capital requirements of the Company ₹87.00 Cr.
General Corporate Purpose ₹0.00 Cr.
Total Fund Requirement ₹148.03 Cr.

IPO Key Metrics

Pre IPO EPS
4.11
Earnings Per Share
Post IPO EPS
17.45
Earnings Per Share
Pre IPO P/E
80.48
Price to Earnings
Post IPO P/E
18.96
Price to Earnings
Market Capitalization ₹583.05 Cr.
Insight: IPO objectives and KPIs provide measurable data to track the company’s real growth.
IPO KPIs

Millworks Technologies Company Details

Company Profile · Overview

Millworks Technologies Ltd. started its business in 2020. The company operates in the Engineering sector. It manufactures high-accuracy machined components for the railways, aerospace, defence, and semiconductor market. The team provides integrated assemblies for mission-critical applications to clients. Its main office is in Bengaluru.

Main Offerings

Precision-machined aerospace engine components
Missile airframe components and guidance housings
Train door mechanisms and actuators
Semiconductor machine frames and fixtures

Key Strengths

Precision engineering capability across diverse materials
4 advanced manufacturing facilities in Bengaluru
Global customer relationships with focus on exports
Strong order book of Rs 9,594.45 lakhs
Company Address: No.458/1, 10th a Cross, Phase-4, Peenya Industrial Area, Peenya Small Industries Bangalore Urban, Karnataka, 560058 | +91 9187045959 | cs@millworksindia.com

Intermediaries

Registrar
Purva Sharegistry (India) Pvt.Ltd.
022-41343255
newissue@purvashare.com
Lead Manager
GYR Capital Advisors Pvt.Ltd.
Market Maker
RESERVATION 4,24,000 shares (up to ₹14 Cr)
Promoters
Promoter Group
Sridhar Acharya H K Madhu Sowmya Madhu and Rashmi Sridhar Acharya

Frequently Asked Questions

5 FAQs
What is Millworks Technologies IPO?

Millworks Technologies IPO offers 48,44,000 equity shares priced between ₹315 and ₹331, opening on 14 July 2026 and closing on 16 July 2026. The total issue size is ₹160.34 crores. The public offering consists entirely of a fresh issue.

When does the Millworks Technologies IPO open for subscription?

The public issue opens on July 14, 2026. The subscription period will close on July 16, 2026.

What is the price band for Millworks Technologies IPO?

The company has fixed the price band from ₹315 to ₹331 per share. Investors can bid within this price bracket.

What is the minimum lot size for a retail investor?

The minimum lot size for a retail investor is 2 lots. This minimum application contains 800 shares and requires ₹2,64,800.

On which stock exchanges will the Millworks Technologies IPO shares list?

The company will list its shares on a specific SME exchange platform. This platform is the BSE SME platform.

Sanjay Bambhaniya
Sanjay Bambhaniya
Sanjay has 8+ years of experience in data-driven IPO insights. His expertise in digital marketing and web development complements his financial knowledge and helps him to develop effective fintech solutions. He is an entrepreneur and director who helps investors understand complex primary market trends in easy-to-understand IPO reports, news, and updates.
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