Millworks Technologies SME IPO Launches Today with GMP Soaring 120% Ahead of Subscription!
Millworks Technologies has commenced its BSE SME IPO subscription, drawing notable attention from investors buoyed by a substantial Grey Market Premium (GMP) of approximately Rs 390, reflecting a remarkable 119.5% premium over the upper issue price of Rs 331 per share. The public offering, scheduled from July 14 to July 16, 2026, aims to raise Rs 160.33 crore by offering up to 48.44 lakh equity shares at a price range of Rs 315 to Rs 331 each. This robust interest underscores Millworks’ positioning in precision engineering and highlights investor confidence ahead of its market debut.
Headquartered in Bengaluru, Millworks Technologies specializes in the manufacture of high-accuracy machined components and integrated assemblies, catering to high-demand sectors including aerospace, defence, railways, and semiconductors. The company operates under Build-to-Print and Build-to-Spec manufacturing models, ensuring compliance with rigorous Original Equipment Manufacturer (OEM) standards. This strategic alignment with critical industries not only emphasizes its operational precision but also enhances its competitive edge in a sector characterized by stringent quality requirements.
The equity share allocation for the IPO sees diversification across various investor categories, with significant portions reserved for Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs). Proceeds from the IPO are intended for capital expenditures, specifically the acquisition of plant and machinery, and fulfilling working capital requirements, positioning Millworks for sustainable growth. Furthermore, the company reported an impressive financial performance in FY26, showcasing revenue of Rs 148.77 crore, an EBITDA of Rs 56.30 crore, and a Profit After Tax (PAT) of Rs 37.06 crore, reinforcing its solid foundations as it transitions into the public markets.
Given the strong financial metrics and positive market signals, including pronounced grey market activity, Millworks Technologies’ IPO presents a compelling opportunity for SME market investors. The company’s targeted sectors are expected to drive future growth, making it an attractive consideration for those seeking exposure in high-growth industrial sectors, particularly in light of shifting economic dynamics favoring advanced manufacturing capabilities.
Source: The Economic Times
(Expert Note: This report was prepared by the Wealthova team.)