Millworks Tech Secures Nearly Rs 44 Cr from Anchor Investors Ahead of IPO Launch
Millworks Technologies, a specialist in high-accuracy machined components, has made positive strides in the Indian IPO market by raising nearly Rs 44 crore from anchor investors ahead of its initial public offering scheduled to open on July 14. The company allocated 13.25 lakh equity shares at Rs 331 per share to various entities, including Rajasthan Global Securities and Evergrow Capital Opportunities Fund, totaling an allocation of Rs 43.86 crore. With an initial public offering (IPO) valued at Rs 160.33 crore, the offering will close on July 16, and the shares are expected to be listed on the BSE SME platform on July 21.
The IPO consists solely of a fresh issue of up to 48.44 lakh equity shares, priced within a band of Rs 315 to Rs 331. Given the robust response from anchor investors, the market sentiment appears favorable, indicating a healthy demand for the company’s shares as it prepares for its public entry. The funds raised are earmarked for capital expenditure, including the purchase of machinery and working capital needs, reinforcing market confidence in Millworks Technologies’ growth prospects, particularly across various sectors like aerospace and defense.
For Indian investors, this IPO represents a strategic opportunity to invest in a company poised for growth in high-precision manufacturing. Millworks Technologies aims to enhance its capabilities and innovation, attributes that are critical in the competitive landscape of its targeted industries. As the company seeks to strengthen its market position through this public offering, investors may find potential value, especially given the company’s reported revenue and profit figures from FY26, amounting to Rs 148.76 crore and Rs 37 crore, respectively. Overall, this IPO could serve as a promising investment avenue in the emerging technology segment within the Indian market.
Source: The Economic Times
(Expert Note: This report was prepared by the Wealthova IPO team.)