Millworks Technologies SME IPO Launches on July 14 with 120% Surge in Grey Market Price!

Millworks Technologies Limited is set to make its debut on the BSE SME platform with its initial public offering (IPO), launching for subscription from July 14 to July 16, 2026. The company aims to raise approximately Rs 160.33 crore through a book-built issue, offering up to 48,44,000 equity shares with a face value of Rs 10 each. Priced between Rs 315 to Rs 331 per share, the IPO requires investors to apply for a minimum of 400 shares per lot. The anchor investor bidding is scheduled for July 13, 2026, led by GYR Capital Advisors Pvt. Ltd. as the book-running lead manager, while Purva Sharegistry (India) Pvt. Ltd. serves as the registrar for the issue.

The grey market sentiment surrounding Millworks Technologies’ IPO is notably positive, with the Grey Market Premium (GMP) reported at approximately Rs 390. This signals a robust anticipated listing price, translating to a remarkable 119.5% premium over the upper price band. Such enthusiasm in the grey market is typically indicative of strong investor interest and confidence in the company’s growth prospects, especially given its focus on precision engineering in critical sectors such as aerospace, defence, and semiconductors.

For Indian investors, the Millworks Technologies IPO presents an exciting opportunity to engage with a company showcasing strong financial performance, having reported a revenue of Rs 148.77 crore and a Profit After Tax (PAT) of Rs 37.06 crore in FY26. The company’s allocation strategy includes segments for Qualified Institutional Buyers, Non-Institutional Investors, and Retail Individual Investors, promoting a balanced structure for participation. As the company plans to utilize the proceeds for capital expenditures and working capital, it not only marks a strategic move for growth but also reflects its commitment to enhancing shareholder value. Thus, this IPO is anticipated to be closely monitored by investors keen on tapping into the SME market’s potential for growth.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)