Millworks Technologies IPO: dates, price band, lot size and GMP
Millworks Technologies IPO listed on 21 Jul at ₹629 (BSE SME). Issue dates 14 – 16 Jul 2026, price band ₹331, lot 400 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Listing: Millworks Technologies listed on 21 Jul 2026 on BSE SME at ₹628.90, +₹297.90 (+90.0%) against the ₹331 upper band. Millworks Technologies IPO listing date, price and gain · Recently listed IPOs
Updated 17 Oct 2026, 22:10 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 208 IPOs on its calendar; the Millworks Technologies IPO has a price band of ₹331, a lot of 400 shares and no grey-market premium reported yet as of 17 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 14 – 16 Jul 2026 |
| Price band | ₹331 |
| Lot size | 400 shares |
| Issue size | ₹160.34 Cr |
| Fresh issue | ₹146.3 Cr |
| Subscription | 219.54x |
| Registrar | Purva Sharegistry (India) Pvt.Ltd. |
| Lead managers | GYR Capital Advisors Pvt.Ltd. |
| Status | Listed |
Timeline
- Issue opens: 14 Jul
- Issue closes: 16 Jul
- Allotment: 17 Jul
- Refunds: 20 Jul
- Demat credit: 20 Jul
- Listing: 21 Jul
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 194.05x |
| NII | 260.37x |
| sNII | 201.44x |
| bNII | 289.84x |
| Retail | 216.6x |
| Total | 219.54x |
Last updated 16 Jul 2026, 6:55 PM IST.
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | BSE SME |
| Market cap at the upper band | ₹583.05 Cr |
| P/E (pre-issue) | 11.4x |
| P/E (post-issue) | 15.73x |
| Fresh issue (shares) | 44,20,000 |
| Total shares offered | 44,20,000 |
| Promoter holding pre-issue | 65.08% |
| Promoter holding post-issue | 47.18% |
| Promoters | Sridhar Acharya, H K Madhu, Sowmya Madhu, Rashmi Sridhar Acharya |
| Lead managers | GYR Capital Advisors Pvt.Ltd. |
| Registrar phone | 022-41343255 |
| Registrar email | newissue@purvashare.com |
| Company website | millworksindia.com |
| Anchor bid date | 13 Jul 2026 |
| Anchor lock-in ends (50%) | 16 Aug 2026 |
| Anchor lock-in ends (remaining) | 15 Oct 2026 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 800 | ₹2,64,800 |
| Retail (maximum) | 2 | 800 | ₹2,64,800 |
| sNII (minimum) | 3 | 1,200 | ₹2,64,800 |
| bNII (minimum) | 3 | 1,200 | ₹10,59,200 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 30% | 13,25,200 | |
| QIB | 20% | 8,84,000 | Not more than 50% of the Net Issue |
| NII (HNI) | 15% | 6,63,600 | Not less than 15% of the Net Issue |
| sNII | 5% | 2,21,200 | |
| bNII | 10% | 4,42,400 | |
| Retail | 35% | 15,47,200 | Not less than 35% of the Net Issue |
| Market Maker | 9.6% | 4,24,000 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 16 Jul | 194.05x | 260.37x | 201.44x | 289.84x | 216.60x | 219.54x |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹29.02 |
|---|---|
| EPS (post-issue) | ₹21.04 |
| P/E (pre-issue) | 11.4x |
| P/E (post-issue) | 15.73x |
| RoNW | 44.83% |
| RoCE | 56.44% |
| RoE | 69.94% |
| PAT margin | 24.91% |
| EBITDA margin | 36.71% |
| Price / book | 5.11x |
| NAV per share | ₹64.73 |
| Debt / equity | 0.21 |
| Market cap (upper band) | ₹583.05 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 198.37 | 39.82 | 10.54 | +398.2% |
| Total Income | 153.4 | 22.42 | 9.4 | ×6.8 |
| Profit After Tax | 37.06 | 5.25 | 1.95 | ×7.1 |
| EBITDA | 56.3 | 7.89 | 2.78 | ×7.1 |
| NET Worth | 82.67 | 23.31 | 2.33 | +254.7% |
| Reserves and Surplus | 69.9 | 23.25 | 2.28 | +200.6% |
| Total Borrowing | 17.02 | 9.63 | 4.57 | +76.7% |
About Millworks Technologies
Millworks Technologies Ltd. is a precision engineering company specializing in the manufacture of high-accuracy machined components, sheet metal parts, and integrated assemblies for mission-critical applications across the railways, aerospace, defence, and semiconductor industries. Business Verticals: Aerospace: Precision-machined components and sub-assemblies used in aero-engine applications. Defense: Machined components and sub-assemblies such as missile airframe components, guidance system housings, structural brackets and mounts, and hydraulic cylinder parts, etc.
Railways: Precision components used in train control and rolling stock infrastructure, and manufacturing components for train and metro door systems, including parts used in door mechanisms and actuators. Semiconductor Machinery: precision-engineered components and fixtures used in semiconductor manufacturing and testing equipment, such as machine base frames, precision brackets and mounts, alignment plates, and equipment housings, etc. Its operations are executed under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, along with full-scope manufacturing and job-work arrangements.
Under the Build-to-Print (BTP) model, it manufactures components strictly in accordance with customer-supplied drawings and technical specifications. In contrast, the Build-to-Spec (BTS) model involves producing components based on functional and performance requirements defined by customers to deliver solutions aligned with their operational objectives. As of November 30, 2025, the company operates four advanced manufacturing facilities in Bengaluru, Karnataka.
These facilities are equipped with state-of-the-art infrastructure, including 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 and inspection areas.
Objects of the issue
- Funding capital expenditure of Company to purchase Plant and Machinery — ₹61.03 Cr
- Funding the working capital requirements of the Company — ₹81.5 Cr
- General Corporate Purposes — ₹9.71 Cr
- Issue Expenses — ₹8.1 Cr
Net proceeds: ₹160.34 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Millworks Technologies Ltd. (issuer) | 30.67 | 30.67 | 64.73 | — | 44.83% | — | — |
| Unimech Aerospace and Manufacturing Ltd | 12.44 | 12.42 | 144.99 | 87.87x | 8.58% | 7.58 | — |
| Azad Engineering Ltd | 20.57 | 20.57 | 236.74 | 96.45x | 8.74% | 8.41 | — |
Source: All the financial information for listed industry peer mentioned above is sourced from the Annual Reports of the aforesaid companies for the year ended March 31, 2026 and stock exchange data dated June 29, 2026 to compute the corresponding financial ratios for the financial year ended March 31, 2026. The current market price and related figures are as on June 29, 2026 (as per NSE). P/E figures for the peers are based on closing market prices of equity shares on NSE on June 08, 2026 divided by the Diluted EPS as at March 31, 2026.
Offer documents: DRHP (PDF) · RHP (PDF)
Frequently asked questions
When does the Millworks Technologies IPO open and close?
The issue is scheduled for 14 – 16 Jul 2026.
What is the Millworks Technologies IPO price band?
The price band is ₹331 per share with a lot size of 400 shares.
How big is the Millworks Technologies IPO?
The total issue size is ₹160.34 Cr.
When will Millworks Technologies list?
The tentative listing date is 21 Jul on the SME platform.
How do I apply for the Millworks Technologies IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Millworks Technologies · as filed with SEBI · bsesme.com
- Red herring prospectus (RHP), Millworks Technologies · as filed · bseindia.com
- Registrar allotment page, Purva Sharegistry (India) Pvt.Ltd. · allotment 17 Jul · purvashare.com
- BSE SME issues page · listing 21 Jul · bsesme.com
- Millworks Technologies company website · millworksindia.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 28 Jul, 06:00 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Millworks Technologies IPO”, https://buyunlistedshares.com/ipo/millworks-technologies-ipo, as of 17 Oct 2026.
Other IPOs on the calendar
- Zetwerk IPO · 15 – 19 Oct 2026
- Bonfiglioli Transmissions IPO · 15 – 19 Oct 2026
- Tonbo Imaging India IPO · 15 – 19 Oct 2026
- Shellz India IPO · 15 – 19 Oct 2026
- Sahajanand Medical Technologies IPO · 15 – 19 Oct 2026
- Jio Platforms IPO · 21 – 23 Oct 2026
- Jio Platforms IPO · 21 – 23 Oct 2026
- Paras Healthcare IPO · 21 – 23 Oct 2026
Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. In the market since 2002. Data as of 17 Oct 2026.
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
All unlisted shares · IPO calendar · Research & learning · Send an enquiry · Calculators · Jobs · About · Contact · Privacy · Terms · Disclaimer · Grievance redressal
Guides: Start investing · Evaluate a company · How prices are set · Risks · Lock-in periods · After the IPO · Sell ESOPs · NRI investors · Buybacks · Choosing a platform
BuyUnlistedShares (BUS) · Gayatri Financial Synergy LLP (LLPIN ACU-4678) · SCO-39, 1st Floor, HUDA Market, Sector-7, Faridabad, Haryana 121006 · +91 916-916-59-59
