Millworks Technologies SME IPO Fully Subscribed on Day 1

New Delhi, Jul 14 (PTI) The initial public offering of Millworks Technologies, a manufacturer of high-accuracy machined components, was fully subscribed on the first day of bidding on Tuesday, ending the session with 10.74 times subscription.

The Rs 160.33-crore SME initial public offering (IPO) received bids for 3,32,39,600 shares against 30,94,800 shares on offer, as per data available with the BSE.

The strongest demand came from individual investors, whose portion was subscribed 15.75 times, and the non-institutional investor category garnered 13.38 times subscription.

However, the portion reserved for qualified institutional buyers (QIBs) received a mild response from investors.

On Monday, Millworks Technologies raised nearly Rs 44 crore from anchor investors.


The IPO will conclude on July 16, and the company's shares are proposed to be listed on the BSE SME platform. The price band for the issue has been fixed at Rs 315-331 per share.

The Bengaluru-based company's share sale is entirely a fresh issue of up to 48.44 lakh equity shares. At the upper end of the price band, the company will fetch Rs 160.33 crore from the public issue.

The net proceeds from the IPO will be utilised for capital expenditure to purchase plant and machinery, working capital requirements and the general corporate purposes.

Millworks Technologies specialises in the design, development and production of high-precision components and assemblies for the railway, aerospace, defence, metro rail, drone and semiconductor industries.

In FY26, the company posted a revenue of Rs 148.76 crore and a net profit of Rs 37 crore.

GYR Capital Advisors is the sole book-running lead manager for the IPO.