Millworks Technologies IPO allotment is being finalised today, July 17, 2026, with successful applicants receiving shares in their demat accounts and unsuccessful investors receiving refunds on July 20. The company's shares are scheduled to make their stock market debut on Tuesday, July 21, 2026, with listings on both BSE and NSE. Investors can check their allotment status online through the BSE website or the registrar Purva Sharegistry portal using their PAN and application number. The ₹160.34 crore SME IPO attracted exceptional demand during its three-day subscription window, with the issue being subscribed over 193 times by the end of day 3.
The IPO continues to command robust grey market activity with Millworks Technologies GMP standing at ₹400 per share today, representing a gain of 120.85% over the upper price band of ₹331 per share. Based on this premium, the stock is estimated to list at around ₹731 apiece, reflecting significant investor confidence. The ₹160.34 crore SME IPO comprises up to 48.44 lakh equity shares with a face value of ₹10 each and has been priced in the range of ₹315 to ₹331 per share. Investors can bid for a minimum lot size of 400 equity shares, with retail investors required to apply for a minimum of two lots, or 800 shares, requiring an investment of ₹2,64,800 at the upper price band.
The Millworks Technologies SME IPO witnessed exceptional response across all investor categories, with the issue being subscribed over 193 times by end of Day 3. The subscription pattern showed strong participation with retail investors leading at 216.46 times subscription, non-institutional investors at 194.05 times, and Qualified Institutional Buyers (QIBs) at 194.05 times. The company received bids for 67.96 crore shares against 35.18 lakh shares on offer, demonstrating robust investor interest. Under the allocation structure, qualified institutional buyers have been allotted 22,09,200 shares (45.61% of total issue), retail investors 15,47,200 shares (31.94%) and non-institutional investors 6,63,600 shares (13.70%).
Bengaluru-based precision engineering company Millworks Technologies successfully raised ₹43.86 crore from nine anchor investors on July 13, a day before the IPO opening. The company allocated 13.25 lakh shares to anchor investors at the upper price band of ₹331 per share. The anchor book included participation from Teal Rise Fund, Inti Capital, Evergrow Capital Opportunities Fund, Saint Capital Fund, LRSD Securities, Vikasa India, Abundantia Capital, and Rajasthan Global Securities. The ₹160.34 crore IPO consists solely of a fresh issue of 0.48 crore equity shares with no offer-for-sale component, with proceeds planned for purchasing plant and machinery, working capital requirements, and general corporate purposes.
Millworks Technologies demonstrated exceptional financial growth with profit increasing more than seven-fold to ₹37.1 crore for FY26 compared to ₹5.2 crore in the previous year. Revenue from operations also increased nearly seven-fold to ₹148.8 crore from ₹22.1 crore during the same period. In FY26, domestic sales contributed 73 percent of revenue while exports accounted for the remaining 27 percent. For FY26, revenue from operations was ₹148.77 crore, of which 27.47 percent was derived from exports to customers located in 9 countries including Canada, the US, Israel, Germany, France, Macedonia, Italy, the United Kingdom, and the Czech Republic. The company operates under Build-to-Print (BTP) and Build-to-Spec (BTS) manufacturing models, manufacturing precision-machined components, sheet metal parts and integrated assemblies for mission-critical industries including aerospace, defence, railways, metro rail, drone and semiconductor sectors.
