GMP IPO Watch
Millworks Technologies IPO Review 2026: Latest GMP, Issue Details, Financial Highlights and Investment Outlook
Millworks Technologies IPO is an upcoming SME public issue that has attracted investor int...
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M
SME IPO
LISTED
BSE SME
MILLWORKS
Millworks Technologies IPO
Millworks Technologies IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Live GMP Today
₹395
+119.3%
Est. Listing: ₹726.00
Price Band
₹315 - ₹331
Per equity share
Lot Size
400 Shares
Min Invest: ₹2,64,800
Issue Size
₹160.34 Cr
Total Public Offering
Issue Dates
13 July 2026 – 15 July 2026
Bidding period
Subscription
193.21x
Total overall demand
Millworks Technologies IPO Details
Key facts at a glance| IPO Open Date | 13 July 2026 | IPO Close Date | 15 July 2026 |
|---|---|---|---|
| Basis of Allotment | 16 July 2026 | Listing Date | 20 July 2026 |
| Price Band | ₹315 - ₹331 per share | Face Value | ₹10 per share |
| Market Lot Size | 400 Shares | Min Investment (Retail) | ₹2,64,800 |
| Total Issue Size | ₹160.34 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | — | Offer for Sale (OFS) | — |
| Listing At | BSE SME | Issue Category | SME Issue |
| Registrar | TBA | ||
Millworks Technologies IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 13 July 2026 | Confirmed |
| IPO Close Date | 15 July 2026 | Confirmed |
| Basis of Allotment | 16 July 2026 | Tentative |
| Initiation of Refunds | 20 July 2026 | Tentative |
| Credit of Shares to Demat | 20 July 2026 | Tentative |
| IPO Listing Date | 20 July 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 16 July 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Millworks Technologies IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 2 Lots | 800 Shares | ₹2,64,800 |
| Retail (Max) | 2 Lots | 800 Shares | ₹2,64,800 |
| S-HNI (Min) | 3 Lots | 1,200 Shares | ₹3,97,200 |
| S-HNI (Max) | 7 Lots | 2,800 Shares | ₹9,26,800 |
| B-HNI (Min) | 8 Lots | 3,200 Shares | ₹10,59,200 |
Millworks Technologies IPO Live GMP & Movement History
Daily unofficial grey market trends
Current Grey Market Premium
₹395 +119.3%
Estimated Listing Price
₹726.00
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 13 Jul 2026 | ₹395 | ₹726.00 | +119.34% |
Disclaimer: Grey Market Premium (GMP) figures are purely unofficial and indicative rates traded in the unregulated grey market. GMP is highly volatile and does not guarantee the actual listing price. Always consult a SEBI registered investment advisor before bidding.
Millworks Technologies IPO Subscription Status
Demand breakdown by investor category
Retail
216.60x
QIB
194.05x
NII / HNI
—
Total
193.21x
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.
Key Strengths
- 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.
Key Risks
- 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.
Millworks Technologies IPO Reservation & Share Quotas
Millworks Technologies Limited has allocated its IPO shares among different investor categories in accordance with SEBI regulations. The reservation structure is intended to provide participation opportunities for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), Retail Individual Investors (RIIs), and Anchor Investors.
The following table provides the category-wise share allocation and reservation percentage for the Millworks Technologies IPO.
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | 13,25,200 Shares | 27.36% |
| QIB (Ex. Anchor) | 8,84,000 Shares | 18.25% |
| NII Shares Offered | 6,63,600 Shares | 13.70% |
| Retail Shares Offered | 15,47,200 Shares | 31.94% |
Millworks Technologies IPO Anchor Investors
Millworks Technologies Limited has reserved a portion of its IPO for Anchor Investors ahead of the public subscription. The anchor investor allocation is intended for qualified institutional investors and is completed one working day before the IPO opens for public bidding.
Details regarding the anchor investor allocation, bidding schedule, lock-in periods, and the list of participating investors are provided below. The final list of anchor investors will be available once the allocation process is completed.
| Particular | Details |
|---|---|
| Anchor Bidding Date | July 13, 2026 |
| Anchor Investors List | |
| Shares Offered | 13,25,200 Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date (50% Shares – 30 Days) | 2026 |
| Lock-in Period End Date (Remaining 50% Shares – 90 Days) | 2026 |
Note: The final anchor investor list, allocation amount, and lock-in dates will be updated after the completion of the anchor book allocation process.
Millworks Technologies IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 14 Jul 2026 |
| IPO Close Date | 16 Jul 2026 |
| Basis of Allotment | 17 Jul 2026 |
| Refunds | - |
| Credit to Demat Account | - |
| IPO Listing Date | 21 Jul 2026 |
Note: The timeline for Millworks Technologies IPO is tentative and subject to change.
Millworks Technologies Promoters and Shareholding Pattern
The promoters of Millworks Technologies Limited are Sridhar Acharya, H K Madhu, Sowmya Madhu, and Rashmi Sridhar Acharya. The promoter group has been instrumental in the company's growth, strategic direction, and operational management over the years.
Before the IPO, the promoters collectively hold a significant stake in the company. Following the fresh issue of equity shares, their percentage holding will be diluted, although they are expected to continue exercising substantial influence over the company's management and operations.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 1,27,70,755 | 65.08% |
| Promoter Holding Post Issue | 1,76,14,755 | -% |
Note: The post-issue promoter shareholding percentage will be updated after the completion of the IPO and final share allotment. The increase in the number of shares reflects the fresh issue under the IPO.
Millworks Technologies Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
Millworks Technologies About the IPO
Millworks Technologies Ltd. is one of the leading engineering companies that designs High-accuracy machined components, Sheet metal parts, and Integrated assemblies serving railways, aerospace, defence, and semiconductor industries. The firm manufactures its products in various ways as per the customer’s needs.
It manufactures parts using the customer’s design (Build-to-Print) as well as the customer’s specifications (Build-to-Spec), managing the complete manufacturing process from start to finish. The firm runs 4 advanced manufacturing facilities in Bengaluru, Karnataka. Its manufacturing facility is equipped with CNC machining centers (3-axis, 4-axis, and 5-axis), CNC turning and turn-mill centers, wire EDM machines, fibre laser cutting systems, CNC press brakes, welding stations, and dedicated assembly, making it an integrated unit.
Millworks Technologies Company Financial Report
To Be Updated Soon
Millworks Technologies Company Valuation & Key Performance Indicators
To Be Updated Soon
Millworks Technologies Peer Group Comparison
To Be Updated Soon
Millworks Technologies Lead Managers & Merchant Bankers
- GYR Capital Advisors Pvt. Ltd.
Millworks Technologies IPO FAQs
Millworks Technologies IPO opens for subscription on 13 July 2026 and closes on 15 July 2026.
The price band for Millworks Technologies IPO is set at ₹315.00 to ₹331.00 per share.
The minimum market lot size is 400 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 800 Shares (₹2,64,800).
The latest Grey Market Premium (GMP) for Millworks Technologies IPO is ₹395. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Millworks Technologies IPO is tentatively scheduled for 16 July 2026, and shares are expected to list on the stock exchanges on 20 July 2026.
The registrar details will be confirmed in the official prospectus.
Millworks Technologies IPO Analysis & Articles
