SME
IPO ·
BSE SME
Millworks Technologies Ltd
Listed
Incorporated in November 2021, Millworks Technologies Limited is a precision engineering and manufacturing company specializing in the design, development, and production of high-precision components and assemblies for the railway
Issue details
Price band
₹315 – ₹331
Face value
₹10
Lot size
400 shares
Minimum investment
₹2,64,800
Issue size
₹160.34 Cr
Fresh issue
₹146.30 Cr
Offer for sale
—
Issue type
Book Built
Exchange
BSE SME
Key dates
Opens
14 Jul 2026
Closes
16 Jul 2026
UPI mandate cut-off
5:00 PM on 16 Jul 2026
Allotment
17 Jul 2026
Refunds
20 Jul 2026
Shares in demat
20 Jul 2026
Listing
21 Jul 2026
Subscription and listing
Subscription
153.41x
Listing price
₹628.90
Registrar
Purva Sharegistry (India) Pvt Ltd
Lead manager
GYR Capital Advisors
Subscription by category
Total
153.41x
Total applications
4,86,146
Anchor investors
Amount raised
₹43.86 Cr
Bid date
13 Jul 2026
50% lock-in ends
16 Aug 2026
Rest lock-in ends
15 Oct 2026
Listing day
Issue price
₹331
Open
₹628.90
High
₹660.30
Low
₹628.90
Day close
₹660.30
Listing gain at open
+90.00%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
22,09,200
45.61%
Anchor Investor Shares Offered
13,25,200
27.36%
QIB (Ex. Anchor) Shares Offered
8,84,000
18.25%
NII Shares Offered
6,63,600
13.70%
bNII > ₹10L
4,42,400
9.13%
sNII < ₹10L
2,21,200
4.57%
Retail Shares Offered
15,47,200
31.94%
Market Maker Shares Offered
4,24,000
8.75%
Total Shares Offered
48,44,000
100.00%
Finaccle’s quick read
Apply
FY26 income up 584%, PAT up 606%, ROE 69.94%, D/E 0.21, post-issue P/E 15.73x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Incorporated in November 2021, Millworks Technologies Limited is a precision engineering and manufacturing company specializing in the design, development, and production of high-precision components and assemblies for the railway, aerospace, defence, metro rail, drone, and semiconductor industries. The company manufactures a wide range of mission-critical products, including railway coach components, braking systems, door mechanisms, metro train couplers, aerospace and aeronautical components, drone parts, and precision components for semiconductor manufacturing equipment.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
69.94%
ROCE
56.44%
Debt / equity
0.21
PAT margin
24.91%
P/E post issue
15.73
Market cap
₹583.05 Cr
Use of IPO money
Funding capital expenditure of Company to purchase Plant and Machinery
₹61.03 Cr
Funding the working capital requirements of the Company
₹81.50 Cr
General Corporate Purposes
₹9.71 Cr
Issue Expenses
₹8.10 Cr
Strengths
✓
As of November 30, 2025, the company operates four advanced manufacturing facilities in Bengaluru, Karnataka
✓
Revenue up 584% in FY26 to ₹153.40 Cr
✓
PAT up 606% in FY26 to ₹37.06 Cr
✓
PAT margin of 24.91%
✓
ROE of 69.94% and ROCE of 56.44%
Risks to watch
!
SME platform: large lot size and thinner trading liquidity
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.