Alpine Texworld GMP ₹2 ▲ 1.90%Millworks Technologies GMP ₹350 ▲ 105.74%Laser Power & Infra GMP ₹36 ▲ 16.82%SBI Funds Management GMP ₹116 ▲ 20.21%Happy Steels GMP ₹5 ▲ 7.58%Devson Catalyst GMP ₹46 ▲ 38.98%
IPO Index
Sanjay Bambhaniya July 8, 2026
SME Book Build UPCOMING

Millworks Technologies SME IPO Review | APPLY or AVOID?

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

Millworks Technologies Ltd. started in 2020. It operates in the Engineering industry and provides high-accuracy machined components to its customers across India and global markets. This business is based in Bengaluru, Karnataka. This IPO review covers the main facts of the offer. It helps you decide if the issue fits your portfolio. The firm delivers components to highly specialized sectors like defense and semiconductor machinery. Updated review will be available soon.

✅ Strengths

  • Multi-axis CNC infrastructure present
  • Certified quality management systems
  • Export operations expand reaching buyers
  • Revenue grew multiple times recently

⚠️ Challenges

Financial Update

The company released its restated financial statements for the year ending March 31, 2025. Total revenue was ₹22.42 crore increased from ₹9.40 in previous year. The net profit for the same period was ₹5.25 crore increased from ₹1.95 in previous year. Assets increased by 283.83% compared to the previous year. This trend should be carefully studied prior to any investment. An updated review will be available soon.

IPO Valuation

The upper price band is ₹331. This price leads to a Price-to-Earnings (P/E) ratio of 18.96. The average P/E for the industry is 92.16. Updated review will be available soon.

IPO Objective

Company will use Offer proceeds to meet stated objectives:

  • Funding capital expenditure of our company to purchase Plant and Machinery
  • Funding the working capital requirements of the company

Promoters & Lead Manager

  • Promoters are Sridhar Acharya, H K Madhu, Sowmya Madhu and Rashmi Sridhar Acharya
  • Lead manager is GYR Capital Advisors Pvt.Ltd.
  • Promoters carry engineering expertise and technical background

Peer Comparison

Below is the comparison of the company with its listed peers using data from March 31, 2025. Updated review will be available soon.

Company NameEPS (Basic)EPS (Diluted)NAV (₹ per share)P/E (x)RoNW (%)P/BV Ratio
Millworks Technologies Ltd.30.6730.6764.7344.83
Unimech Aerospace and Manufacturing Ltd12.4412.42144.9987.878.587.58
Azad Engineering Ltd20.5720.57236.7496.458.748.41

Financial data sourced from annual reports and stock exchange data, using restated financial statements for 2024-25. NAV per share (closing net worth divided by weighted average number of paid-up equity shares) and RoNW (net profit after tax divided by closing net worth).

IPO Review & Analyst Rating

Updated review will be available soon.

Analyst NameRecommendation
OverallMixed Reviews

Disclaimer: The information on the site is informational only. The contents of this blog are not financial advice. You should not invest in any stock market instrument without consulting your Financial advisor.

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.
Discussion & Feedback
0 Comments

No comments yet. Be the first to share your thoughts!

Editorial Pickup

In the Spotlight

Important business websites and news channels talk about the IPO INDEX.