Millworks Technologies came to market through an SME IPO that opened on 14 July 2026 and closed on 16 July 2026, and the shares listed on 21 July 2026 on BSE SME. The price band was ₹315 to ₹331 per share and one lot was 400 shares, so the minimum application was ₹1,32,400. The issue size was ₹160.34 crore. The whole issue was fresh shares, so the money raised went to the company.
It listed at ₹628.9, a gain of 90% against the issue price of ₹331. Purva Sharegistry (India) Pvt.Ltd was the registrar to the issue, and GYR Capital Advisors Pvt.Ltd was the lead manager.
As of 16 July 2026.
| Day |
|---|
| 1 |
| 2 |
| 3 |
Overall the issue was subscribed 219.68 times.
Millworks Technologies Ltd. is an organization that specializes in precision engineering services with regard to manufacturing of high accuracy machined parts, sheet metal parts, and assemblies for critical operations in the rail, aerospace, defence, and semiconductor industry sectors. Business Verticals: Aerospace - Precision engineered machined parts and sub assemblies for aero engine application. Defense - Machined components and sub assemblies like Missile Air Frame Components, Housing for Guidance System, Brackets and Mounts, Hydraulic Cylinders, etc.
Railway - Precision engineered machined components for use in train controls and railway infrastructure as well as Train & Metro door mechanism parts, Door Actuators, etc. Semiconductor Machinery - Precision engineered machined components for semiconductor machinery and test equipment applications such as Machine Base Frames, Brackets and Mounts, Alignment Plates, Housing of Equipment, etc. As of November 30, 2025, there are four modern manufacturing units of the company located in Bengaluru, Karnataka.
The modern manufacturing units have state-of-the-art infrastructure which includes machining centers of three-axis, four-axis, and five-axis type, CNC turning and turning-milling centers, wire electrical discharge machining (EDM) machine, fiber laser cutting machine, CNC press brake, and weld and assemble stations.
As described in the offer document.
| Metric | 30-Nov-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
|---|
Millworks Technologies Limited finalised its anchor investor allocation on July 13, 2026, with 13,25,200 equity shares allotted to anchor investors at an anchor price of ₹331 per share, including a share premium of ₹321. The anchor book comprises 9 investors, with LRSD Securities Pvt Ltd receiving the dominant allocation of 59.25%.
The remaining allocation was distributed among 8 investors including INTI Capital VCC – INTI Capital I at 9.06%, and Evergrow Capital Opportunities Fund, Saint Capital Fund, Teal Rise Fund 1, Rajasthan Global Securities, RGSL Investment Fund, Vikasa India EIF I Fund, and Abundantia Capital VCC each at 4.53%.
Sridhar Acharya, H K Madhu, Sowmya Madhu, Rashmi Sridhar Acharya. Promoter holding 65.08% before the issue.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Millworks Technologies IPO was a ₹160.34 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹315–₹331 per share with a lot size of 400 shares; the minimum retail application was 800 shares (₹2,64,800). The IPO was open from July 14 to July 16, 2026 and was subscribed 219.68x. Shares listed on BSE SME on July 21, 2026 at ₹628.90, a 90.0% premium to the issue price of ₹331. Purva Sharegistry (India) Pvt. Ltd.
is the registrar. GYR Capital Advisors Pvt. Ltd. is the book running lead manager.
The price band of Millworks Technologies IPO is ₹315 to ₹331 per share.
The lot size of Millworks Technologies IPO is 400 shares.
The minimum investment for Millworks Technologies IPO is approximately ₹2,64,800 based on the upper price band.
The allotment date of Millworks Technologies IPO is Jul 17, 2026.
No GMP quote could be verified as recorded before Millworks Technologies IPO listed. A grey-market observation of ₹297 per share was recorded on 21 Jul 2026, 6:30 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹628.9. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Millworks Technologies IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Millworks Technologies IPO allotment status on Rupix for quick and easy access.
₹315 to ₹331 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 400 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,32,400. After listing, SME shares also trade in lots rather than one share at a time.
₹1,32,400, for one lot of 400 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 14 July 2026 and closed on 16 July 2026.
The basis of allotment was published on 17 July 2026 by Purva Sharegistry (India) Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 21 July 2026 on BSE SME, opening at ₹628.9.
The issue size was ₹160.34 crore. The fresh issue was 48,44,000 shares (aggregating up to ₹160.34 crore).
It listed at ₹628.9 against an issue price of ₹331, a gain of 90 percent on listing day.