Millworks Technologies was incorporated on November 01, 2021. The company is a precision engineering manufacturer of machined components, sheet metal parts, and integrated assemblies for the railways, aerospace, defence, and semiconductor sectors. It operates under both Build-to-Print and Build-to-Spec models, providing customized manufacturing solutions for a wide range of customer requirements
| Bidding Dates |
|---|
| 14 Jul 2026 - 16 Jul 2026 |
| Subscription |
|---|
| 193.21x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,52,000 | 2 | 2 | 400 | 4.8 M | ₹315 - ₹331 | 47.18 % | ₹1525.9 M - ₹1603.4 M | RHP DOC |
Millworks Technologies IPO SUBSCRIPTION STATUS
16 Jul '26Millworks Technologies IPO overall subscription rate was 193.21 times the total available shares
Millworks Technologies IPO retail subscription rate was 272.11 times in the retail segment
Millworks Technologies IPO non-institutional investor subscription rate was 328.16 times in the non-institutional investor category
Millworks Technologies IPO Qualified Institutional Bidder subscription rate was 97.5 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
16 Jul 2026 (Day 3) | 272.11x | 328.16x | 97.5x |
15 Jul 2026 (Day 2) | 90.11x | 86.69x | 0.11x |
14 Jul 2026 (Day 1) | 19.78x | 16.82x | - |
Millworks Technologies FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 148.8 | 37.1 | -10.8 | -18.6 | 36.7% |
| FY25 | 22.1 | 5.2 | -2.9 | -12.2 | 35.2% |
| FY24 | 9.4 | 2.0 | 0.7 | -2.0 | 29.6% |
Millworks Technologies IPO SUBSCRIPTION STATUS DETAILS
Millworks Technologies had 4.8 M shares on offer
Millworks Technologies IPO offer price was in the range ₹315 - ₹331
Millworks Technologies IPO minimum Investment was ₹252000
Millworks Technologies IPO issue size was ₹ 1525.9 M - ₹ 1603.4 M
Millworks Technologies had a minimum lot size of 400 Shares per application
Millworks Technologies NUMBER OF SHARES ON OFFER
Millworks Technologies IPO IMPORTANT DATES
| Issue Open Date | 14 Jul 2026 |
| Issue close Date | 16 Jul 2026 |
| Allotment Date | 17 Jul 2026 |
| Refund Date | 20 Jul 2026 |
| Demat Account Credit Date | 20 Jul 2026 |
| Listing Date | 21 Jul 2026 |
| Listing on Exchange(s) | BSE |
| Millworks Technologies Allotment Status | Exchange/ Registrar |
Millworks Technologies IPO subscription opened on 14 Jul 2026, and closed on 16 Jul 2026
IPO allotment for Millworks Technologies was finalized on Friday, 17 Jul 2026
IPO listing for Millworks Technologies was on BSE on Tuesday, 21 Jul 2026
Millworks Technologies IPO LISTING GAINS
| Issue Price (adjusted) | 331.0 |
| Listing Open Price | 628.9 |
| Listing Close Price | 660.3 |
| Listing Gain% | 90.0% |
| Current Gain% | 145.7% |
Millworks Technologies Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Millworks Technologies Ltd. | 813.1 | 1432.3 | 38.6 | 0.1 | 9.3 | 44.8 | 18.7 | 153.4 | 584.3 | 37.1 | 605.7 | 21 | 605.7 |
| Cummins India Ltd. | 5426 | 150408.7 | 63.5 | 6 | 11.9 | 27.9 | 20.9 | 12660.5 | 16.8 | 2361.8 | 18.1 | 85.4 | 10.6 |
| GE Vernova T&D India Ltd. | 4299 | 110074.4 | 84.3 | 1.2 | 16.4 | 45.8 | 15.9 | 6297.2 | 44.6 | 1233.2 | 102.7 | 51 | 70.6 |
| 3M India Ltd. | 36035 | 40593.8 | 77.7 | 6.4 | 8 | 29.5 | 16.6 | 5138.5 | 13.8 | 522.3 | 9.7 | 463.7 | 12.2 |
| Kirloskar Oil Engines Ltd. | 2161.7 | 31457 | 57.6 | 3.7 | 4 | 15.9 | 5.3 | 7771.2 | 21.5 | 574.3 | 17.4 | 37.5 | 15.8 |
| Jyoti CNC Automation Ltd. | 784.3 | 17836.8 | 55.4 | -12.6 | 8.1 | 16.8 | 9.3 | 2153.6 | 17.5 | 336 | 6.3 | 14.1 | -4.4 |
Millworks Technologies INFORMATION ON IPO ISSUE
About Millworks Technologies
Millworks Technologies was incorporated on November 01, 2021. The company is a precision engineering manufacturer of machined components, sheet metal parts, and integrated assemblies for the railways, aerospace, defence, and semiconductor sectors. It operates under both Build-to-Print and Build-to-Spec models, providing customized manufacturing solutions for a wide range of customer requirements
Object of the Issue
- Funding capital expenditure of the company to purchase plant and machinery
- Funding the working capital requirements of the company
- General corporate purposes
Millworks Technologies - PROMOTERS
| Name |
|---|
| Sridhar Acharya |
| Rashmi Sridhar Acharya |
| H K Madhu |
| Sowmya Madhu |
Millworks Technologies - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Sridhar Acharya | Managing Director |
| Rashmi Sridhar Acharya | Chairman & Non-Executive Director |
| H K Madhu | Whole Time Director |
| Sowmya Madhu | Whole Time Director |
| Maniyil Indrabalan | Independent Director |
| S Ganesan | Independent Director |
Millworks Technologies Book Running Lead Manager
GYR Capital Advisors Private Limited
millworks.ipo@gyrcapitaladvisors.in
Millworks Technologies Registrar to the Offer
Purva Sharegistry (India) Pvt. Ltd.
newissue@purvashare.com
Millworks Technologies Strengths
Precision engineering capability
The company manufactures precision-engineered components and sub-assemblies for the aerospace, defence, railways, and semiconductor sectors, specializing in low- to medium-volume production for mission-critical applications. It follows stringent quality standards and has expertise in machining complex components using a wide range of materials while ensuring full compliance with customer specifications
Structured R&D function
The company focuses on research and development to drive process innovation, improve manufacturing efficiency, and enhance product quality through Industry 4.0 initiatives. Its experienced engineering team also develops advanced electronic systems and strengthens technical capabilities to support consistent production and faster deliveries
Global presence
The company serves domestic and international OEMs, Tier-1, and Tier-2 customers across the aerospace, defence, railways, and semiconductor sectors, with exports to 12 countries. Its export business is supported by recurring orders, long-term supply arrangements, and compliance with applicable export regulations
Millworks Technologies Risks
Expansion risks
The company has not yet placed orders for machinery planned for its manufacturing expansion, making the project vulnerable to procurement delays and cost escalations. Any delay or increase in equipment costs could postpone capacity expansion and adversely affect its business and financial performance
Accidents or mishaps
The company's manufacturing operations involve inherent safety and operational risks, including accidents, fires, equipment failures, and hazardous material handling. Any such incident could cause injuries, operational disruptions, legal liabilities, and reputational damage, adversely affecting its business and financial performance
Operational risks
The company's business is sensitive to economic downturns and adverse social, political, or environmental conditions that may reduce demand and disrupt operations. Events such as natural disasters, supply chain disruptions, or regional instability could adversely affect its sales, profitability, and financial performance.
IPO FAQs
The promoters of the company are Sridhar Acharya, Rashmi Sridhar Acharya, H K Madhu and Sowmya Madhu.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 315.0 - 331.0.
The IPO application opens on Jul 14, 2026 and closes on Jul 16, 2026.
The minimum lot size for the IPO is 800. The maximum lot size for the IPO is 800.
For all category investors, the minimum application amount for this IPO is Rs. 252,000.0, the maximum value for this IPO is Rs 264,800.0.
This IPO will be allotted on Jul 17, 2026.
The refund will be credited to your account on Jul 20, 2026.
The allotted shares will be credited to your demat on Jul 20, 2026.
Millworks Technologies Ltd.’s shares listed on the stock exchanges on Jul 21, 2026.