Millworks Technologies Limited
Bookbuilding IPO · BSE
- Price band
- ₹315 – ₹331
- Lot size
- 400 shares
- Issue amount
- ₹160.33 cr
- Total subscription
- 219.68×
- Opens
- 14 Jul 2026
- Closes
- 16 Jul 2026
- Allotment
- 17 Jul 2026
- Listing
- 21 Jul 2026
Offer at a glance
Issue overview
- Issue size
- 48,44,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,26,000
- Fresh issue
- ₹160.33 cr
- Offer for sale
- ₹0 cr
- Registrar
- Purva Sharegistry India Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,32,400
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,27,70,755
- Shares after issue
- 1,77,70,755
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 800 | ₹2,64,800 |
| sHNI | 3 | 1,200 | ₹3,97,200 |
| bHNI | 8 | 3,200 | ₹10,59,200 |
Share reservation
Subscription & GMP
Subscription by category
Reported 16 Jul 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 182 |
| NIB | 0 | 70,696 |
| RETAIL | 1,934 | 4,18,901 |
| EMPLOYEES | 0 | 0 |
| HNIs(10L +) | 369 | 36,418 |
| HNIs (2-10L) | 184 | 34,278 |
| Shareholder | 0 | 0 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 29.26 | 5,677.87 |
| FIIs | 0 | 1,019.49 |
| Mutual Funds | 0 | 113.25 |
| Others | 0 | 3,616.18 |
| RETAIL | 51.21 | 11,092.5 |
| HNIs 2+ | 7.32 | 1,474.9 |
| HNIs 10+ | 14.64 | 4,276.75 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 30.67 | 5.04 | 1.94 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | 44.83 | 22.52 | 83.88 |
| PRE IPO(PE) | 10.79 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Millworks Technologies Limited | 10.79 | 331.00 | 5.00 | 64.73 | 44.83 | 30.67 |
| Unimech Aerospace and Manufacturing Limited | 87.87 | 1091.40 | 2.00 | 144.99 | 8.58 | 12.44 |
| Azad Engineering Limited | 96.45 | 1984.00 | 10.00 | 236.74 | 8.74 | 20.57 |
Company information
Company profile
Millworks Technologies Ltd. is a precision engineering company that manufactures high-accuracy machined components, sheet metal parts, and assemblies used in critical industries like railways, aerospace, defence, and semiconductors. The company supplies parts such as aero-engine components, missile structures, railway system parts, and equipment used in semiconductor machines. It works on both Build-to-Print (as per customer designs) and Build-to-Spec (based on performance needs) models, along with full manufacturing and job-work services. As of November 30, 2025, the company operates four advanced manufacturing facilities in Bengaluru, equipped with modern machinery like CNC machines, laser cutting systems, welding stations, and dedicated assembly and inspection setups.
Strengths
- Precision Engineering Expertise: The company has strong capabilities in manufacturing complex and high-precision components used in aerospace, defence, railways, and semiconductor industries.
- Certified Quality Standards: It follows certified quality management systems that help maintain consistent product quality and meet industry requirements.
- Integrated Manufacturing Facility: The company has a comprehensive manufacturing setup that supports machining, fabrication, assembly, and customized production solutions.
Risk factors
- Customer Concentration Risk: The company depends on a few major customers for a large share of its revenue. Losing any key customer could impact business performance.
- Intense Industry Competition: The precision engineering industry is highly competitive, and the company must continuously maintain quality, technology, and cost efficiency to stay competitive.
- Dependence on Key Industries: Business growth is closely tied to sectors such as aerospace, defence, railways, and semiconductors. A slowdown in these industries may affect demand and revenue.
Promoters
Mr. Sridhar Acharya
Mr. H K Madhu
Mrs. Sowmya Madhu
Mrs. Rashmi Sridhar Acharya
Registrar & documents
Lead manager
GYR Capital Advisors Private Limited
Registrar & contacts
Purva Sharegistry India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
No.458/1, 10th a Cross, Phase-4, Peenya Industrial Area, Peenya Small Industries Bangalore Urban, Karnataka, 560058
+91 9187045959
[email protected]Company website ↗Understanding MILLWORKS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.