The Milestone Gears IPO has been announced and its dates are awaited, with the shares to list on the NSE and BSE. The issue size is ₹1100 crore. Kfin Technologies Ltd is the registrar to the issue, and Axis Capital Ltd., JM Financial Ltd., Motilal Oswal Investment Advisors Ltd are the lead managers.
Since its incorporation in 1984, Milestone Gears Limited has been involved in the production of sophisticated high precision engineering transmission parts utilized in various industries such as tractors, construction machinery, electric vehicles, locomotives, windmills and other heavy industries. The firm produces transmission parts for Indian as well as overseas original equipment manufacturers (OEMs) and their related firms.
They have built a good reputation of having a long-lasting relationship with their top ten customers whose average tenure exceeds 18 years as at fiscal year 2025. Products produced by Milestone Gears Limited include bull gears, rear axles, spindles, internal ring gears and bevel gears catering to sectors such as agriculture, construction machinery, electric vehicles, locomotives and wind energy. Milestone Gears Limited is continually broadening its product range in order to increase its market share.
As at June 30, 2025, the firm had a total of 1,417 permanent workers and 2,038 contractual workers.
As described in the offer document.
Ashok Kumar Tandon, Aman Tandon.
Work out the listing gain for this IPO
Applications are made through ASBA, where the money is blocked in your own bank account rather than paid, or through a UPI mandate for applications up to five lakh rupees. Through your broker's app, choose the issue, the number of lots and the price; bid at the cut-off price so that the application is valid whatever price the issuer finally fixes; and approve the UPI mandate that arrives from your bank.
Through net banking, the ASBA form in your bank's IPO section does the same without a broker. One application per PAN counts; a second application in the same name is rejected, though applications in family members' names with their own PANs and demat accounts are separate.
Retail applications are capped at two lakh rupees; above that you apply as a non-institutional investor, where allotment is proportionate rather than by lottery. The money stays in your account and earns interest until allotment, and the block is released on the allotment date if you receive nothing.
The expected listing premium, usually called the grey market premium, is the amount per share that unofficial dealers are quoting for the issue before it lists. It is a sentiment reading, not a price you can transact at, and it is not regulated by SEBI or the exchanges. It moves through the day, usually tracks subscription, and often changes sharply in the final hours before listing.
Rupix records every observation and shows the trend, as a percentage of the top of the price band so that issues of different sizes can be compared. It is one input, alongside subscription, the company's financials and the valuation the issue asks for, and it does not predict the listing price.
The issue size is ₹1100 crore.
On the registrar's website at https://ipostatus.kfintech.com/, by PAN, application number or demat account, once the basis of allotment is published. The Rupix app can also check it by PAN.
Through your broker's app with a UPI mandate, or through your bank's net banking using ASBA. Bid at the cut-off price, approve the mandate, and the money stays blocked in your account until allotment. Rupix does not take applications.