Millworks Technologies IPO GMP today is Rs 395. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
MILLWORKS
Millworks Technologies IPO GMP & Allotment
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.
- IPO Price Band
- ₹315.00 - ₹331.00
- Lot Size
- 400 Shares
- Bidding Closes
- 16 Jul 2026
- Listing Date
- 21 Jul 2026
Quick Answer & Highlights
Millworks Technologies IPO GMP Today & Key Takeaways
Last updated: 13 Jul 2026
Millworks Technologies IPO officially listed on 21 Jul 2026 at Rs 628.90, delivering a +90.00% listing gain compared to its issue price of Rs 331.00. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹395.
Millworks Technologies IPO officially listed on 21 Jul 2026 at ₹628.90, delivering a +90.00% listing gain compared to its issue price of ₹331.00. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹395.
| Key Metric | Figure | Status / Context |
|---|---|---|
| Current GMP | ₹395 | +119.34% vs upper band (13 Jul 2026) |
| Est. Listing Price | ₹628.90 | +90.00% Est. Listing Gain |
| Price Band | ₹315.00 - ₹331.00 | SME IPO |
| Retail Minimum Investment | ₹2,64,800 | 2 Lot (400 Shares) |
| Bidding Window | 14 Jul 2026 – 16 Jul 2026 | Listed |
| Allotment & Listing Dates | Allotment: 17 Jul 2026 | Listing: 21 Jul 2026 |
Current GMP Status
₹395
+119.34% vs upper band
Est. Listing Gain
+90.00%
Last Trend
13 Jul 2026
Listing Price
₹628.90
Retail Entry
₹2,64,800
IPO Details
Complete IPO information
| IPO Open Date | 14 Jul 2026 |
|---|---|
| IPO Close Date | 16 Jul 2026 |
| IPO Price Band | ₹315.00 - ₹331.00 |
| Lot Size | 400 Shares |
| Current GMP | ₹395 |
| Estimated Listing Gain | +90.00% |
| Issue Size | Approx ₹160.34 Cr |
| Fresh Issue | - |
| Issue Type | SME |
| IPO Listing | BSE SME |
| Retail Quota | TBA |
| Registrar | TBA |
| Overall Subscription | 193.21x |
| Minimum Investment | ₹2,64,800 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus | - |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Millworks Technologies is priced at ₹331 per share. With a minimum lot size of 400 shares, a retail investor applying for one lot would need approximately ₹2,64,800 to participate in this SME issue.
The latest recorded Grey Market Premium for Millworks Technologies stands at ₹395, implying an estimated listing gain of around 119.34% over the issue price if it holds until listing. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Millworks Technologies's IPO was subscribed 193.21x overall, with a category-wise breakdown of Retail 216.6x, QIB 194.05x.
Among the strengths highlighted in Millworks Technologies's IPO documents: Experienced promoters with deep domain knowledge in precision engineering.; The management team has an established execution and operating track record..
Investors should also weigh the risk factors Millworks Technologies has disclosed, including: Revenue has fluctuated significantly in the past and may continue to remain volatile..
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
14 Jul 2026
✓
Bidding Closes
16 Jul 2026
✓
Allotment
17 Jul 2026
✓
Listing
21 Jul 2026
| Event / Milestone | Scheduled Date | Status |
|---|---|---|
| Bidding Opens | 14 Jul 2026 | Completed |
| Bidding Closes | 16 Jul 2026 | Completed |
| Allotment | 17 Jul 2026 | Completed |
| Listing | 21 Jul 2026 | Completed |
Grey Market Premium
Daily GMP status
Trend chart builds up as more daily GMP snapshots are recorded.
| Date | GMP | Change | Gain |
|---|---|---|---|
| 13 Jul 2026 | ₹395.00 | - | 119.34% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 800 | ₹2,64,800 |
| Retail Maximum | 2 Lot | 800 | ₹2,64,800 |
| S-HNI Minimum | 3 Lot | 1,200 | ₹3,97,200 |
| S-HNI Maximum | 7 Lot | 2,800 | ₹9,26,800 |
| B-HNI Minimum | 8 Lot | 3,200 | ₹10,59,200 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Issue Notes
Important takeaways before applying
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.
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.
Analysis
Millworks Technologies IPO Reservation
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% |
Analysis
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.
Analysis
Millworks Technologies IPO 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.
Analysis
Millworks Technologies IPO Promoters and Holding 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.
Analysis
Millworks Technologies Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
Analysis
Millworks Technologies - About 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.
Analysis
Millworks Technologies Company Financials
To Be Updated Soon
Analysis
Millworks Technologies Company Valuation – FY2026
To Be Updated Soon
Analysis
Millworks Technologies IPO Peer Group Comparison
To Be Updated Soon
Analysis
IPO Lead Managers aka Merchant Bankers
- GYR Capital Advisors Pvt. Ltd.
Comparison
Compare Millworks Technologies IPO with similar IPOs
FAQ
Millworks Technologies IPO FAQs
Based on the latest Grey Market Premium (GMP) of Rs 395 and an issue price of Rs 331, the estimated listing price for Millworks Technologies IPO is Rs 726.00 (approx 119.34% listing gain). Actual listing price is determined by market demand on the listing day.
Millworks Technologies IPO price band is Rs 315.00 to Rs 331.00. Check the latest issue price, lot size and GMP together before applying.
Millworks Technologies IPO open date is 14 Jul 2026, close date is 16 Jul 2026, and listing date is 21 Jul 2026.
Millworks Technologies IPO lot size is 400 shares. The minimum retail investment is Rs 2,64,800.
Millworks Technologies is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Millworks Technologies IPO subscription status currently shows Retail 216.6x, QIB 194.05x, Overall 193.21x.
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.
Millworks Technologies IPO issue size is 160.34 and the expected allotment date is 17 Jul 2026.
In our empirical study of 104 Indian IPO listings, positive GMP was followed by a positive listing gain 69.9% of the time. However, as an exact forecast, the median variation between GMP-implied gain and actual listing price was 7.8 percentage points. GMP reflects informal market sentiment and should always be evaluated alongside company valuation and fundamentals.
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