Millworks Technologies’ IPO Soars: Subscriptions Reach 63x and Grey Market Premium Jumps to 125% Ahead of Listing!
Bengaluru-based Millworks Technologies Limited’s IPO has garnered significant attention, marking a strong culmination to its bidding phase with a subscription rate exceeding 62 times. This high demand is indicative of robust investor confidence in the company’s growth prospects and operational strengths. As of the final day, the issue received bids for approximately 62.68 times the total shares available, highlighting overwhelming interest across various investor segments, particularly in the retail category where individual investors subscribed at 96.29 times the allocated portion. The company’s grey market premium (GMP) trading at Rs 415, reflecting a striking 125% gain over the upper issue price of Rs 331, further underscores the positive sentiment surrounding this IPO.
Millworks Technologies, which specializes in high-precision engineered components essential for sectors like aerospace, defense, and semiconductors, has established a credible foundation through its dual manufacturing strategies—Build-to-Print and Build-to-Spec. This capability positions the company as a competitive supplier in industries demanding rigorous quality and precision. The IPO proceeds, totaling Rs 160.34 crore from the sale of up to 48.44 lakh equity shares, are earmarked for capital expenditures aimed at enhancing manufacturing capacities and addressing working capital needs, thus supporting planned expansions in high-growth industrial segments.
The company’s financial profile further bolsters its appeal; reporting revenue of Rs 148.77 crore, EBITDA of Rs 56.30 crore, and a profit after tax of Rs 37.06 crore for FY26 signals healthy growth and profitability. Such financial resilience, coupled with exposure to critical industries, has cultivated strong investor interest in Millworks Technologies’ SME IPO. As the company anticipates its listing on the BSE SME platform, market participants are poised to monitor its performance closely, given the significant engagement from various investor categories and the promising long-term outlook positioned by its operational capabilities.
Source: The Economic Times
(Expert Note: This report was prepared by the Wealthova team.)