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Latest GMP
- Lead Manager
- GYR Capital Advisors Private Limited
- IPO Registrar
- Purva Sharegistry (India) Private Limited
- IPO Open Date
- 14th Jul 2026
- IPO Close Date
- 16th Jul 2026
- Allotment date
- 17th Jul 2026
- Listing date
- 21st Jul 2026
- Issue Size
- ₹ 160 Cr.
- Issue Price Band
- ₹ 315 to 331
- Lot Size
- 400 Share
- Minimum Investment
- ₹ 264800
Disclaimer: IPO details, GMP, subscription figures, and other related information are for informational purposes only and may not always be accurate or up to date. Please verify the latest details from official sources before investing.
About Millworks Technologies Limited
Millworks Technologies Ltd. is a precision engineering company specialising in the manufacture of high-accuracy machined components, sheet metal parts, and integrated assemblies for mission-critical applications.
The company serves the railways, aerospace, defence, and semiconductor industries.
Business Verticals
Aerospace
Precision-machined components and sub-assemblies used in aero-engine applications.
Defence
Machined components and sub-assemblies such as missile airframe components, guidance system housings, structural brackets and mounts, and hydraulic cylinder parts.
Railways
Precision components used in train control and rolling stock infrastructure, including parts for train and metro door systems, door mechanisms, and actuators.
Semiconductor Machinery
Precision-engineered components and fixtures used in semiconductor manufacturing and testing equipment, such as machine base frames, precision brackets and mounts, alignment plates, and equipment housings.
Business Models
The company operates under Build-to-Print (BTP) and Build-to-Spec (BTS) models, along with full-scope manufacturing and job-work arrangements:
- Build-to-Print (BTP): Manufacturing components strictly as per customer-supplied drawings and technical specifications.
- Build-to-Spec (BTS): Producing components based on functional and performance requirements defined by customers.
Manufacturing Facilities
As of November 30, 2025, Millworks operates four advanced manufacturing facilities in Bengaluru, Karnataka.
These facilities are equipped with state-of-the-art infrastructure, including CNC machining centers (3-axis, 4-axis, and 5-axis), CNC turning and turn-mill centers, wire EDM machines, fibre laser cutting systems, CNC press brakes, welding stations, and dedicated assembly and inspection areas.
Order Book
Strong order book of ₹9,594.45 lakhs (as of January 10, 2026).
Competitive Strengths
- Precision engineering capability and manufacturing of complex components across diverse materials
- Certified quality management systems supporting processes
- Comprehensive manufacturing infrastructure
- Global customer relationships and export-oriented business operations
- Structured research and development function
- Experienced management and skilled technical workforce
IPO Subscription Details
| Category | Shares Offered | Shares Applied | Subscription Times (x) |
|---|---|---|---|
| Total | 30,94,800 (100.00%) | 67,82,56,368 | 219.16 |
Grey Market Premium (GMP)
| GMP Date | IPO Price | GMP | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 20-07-2026 | ₹331 | ₹390 | ₹721 ( 117.82% ) | ₹156,000.00 | 20-Jul-2026 10:08 AM |
| 18-07-2026 | ₹331 | ₹401 | ₹732 ( 121.15% ) | ₹160,400.00 | 18-Jul-2026 01:24 PM |
| 16-07-2026 | ₹331 | ₹400 | ₹731 ( 120.85% ) | ₹160,000.00 | 16-Jul-2026 04:29 PM |
| 15-07-2026 | ₹331 | ₹390 | ₹721 ( 117.82% ) | ₹156,000.00 | 15-Jul-2026 06:06 PM |
| 14-07-2026 | ₹331 | ₹375 | ₹706 ( 113.29% ) | ₹150,000.00 | 14-Jul-2026 06:05 PM |
| 13-07-2026 | ₹331 | ₹396 | ₹727 ( 119.64% ) | ₹158,400.00 | 13-Jul-2026 06:13 PM |
Financials of Millworks Technologies Limited
A quick overview of the key financial performance of Millworks Technologies Limited.
Total Assets (₹ Cr)
Revenue (₹ Cr)
Profit after Tax (₹ Cr)
*All values are in Rs. Cr
Company Financials
Revenue increased by 203%, Profit after Tax (PAT) increased by 290%, Total Assets increased by 184% between FY2025 (Mar) and FY2025 (Nov).
| Period Ended | FY2023 | FY2024 | FY2025 (Mar) | FY2025 (Nov) |
|---|---|---|---|---|
| Revenue | 1.78 | 9.40 | 22.42 | 68.02 |
| Assets | 3.79 | 10.64 | 40.84 | 115.83 |
| Profit After Tax | 1.95 | 5.25 | 20.50 |
IPO Lot Size
Application
Lots
Shares
Amount
Individual Investors (IND) (Min)
2
800
₹ 2,64,800
Individual Investors (IND) (Max)
2
800
₹ 2,64,800
S-HNI (Min)
3
1,200
₹ 3,97,200
S-HNI (Max)
7
2,800
₹ 9,26,800
B-HNI (Min)
8
3,200
₹ 10,59,200
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Investors (IND) (Min) | 2 | 800 | ₹ 2,64,800 |
| Individual Investors (IND) (Max) | 2 | 800 | ₹ 2,64,800 |
| S-HNI (Min) | 3 | 1,200 | ₹ 3,97,200 |
| S-HNI (Max) | 7 | 2,800 | ₹ 9,26,800 |
| B-HNI (Min) | 8 | 3,200 | ₹ 10,59,200 |
Key Performance Indicators (KPI)
| KPI | Latest |
|---|---|
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Pre IPO
Post IPO
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| EPS (₹) |
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| P/E (x) |
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| Promoter Holding (%) |
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IPO Lead Manager(s)
Lead Manager Details
- GYR Capital Advisors Private Limited
- Contact Person: Mr. Mohit Baid/ Mr. Sagar Vidhani
- SEBI Registration Number: INM000012810
- Investor Grievance Email: investors@gyrcapitaladvisors.com
- Website: https://gyrcapitaladvisors.com/
- Email: millworks.ipo@gyrcapitaladvisors.in
- Phone: +91 8777564648
- Address: 428, Gala Empire, Near JB Tower, Drive in Road, Thaltej, Ahmedabad-380054, Gujarat, India
IPO Registrar
- Registrar Name
- Purva Sharegistry (India) Private Limited
- newissue@purvashare.com
- Phone
- +91 22 4961 4132
- Contact Person
- Ms. Deepali Dhuri
- SEBI Registration Number
- INR000001112
- Address
- Unit No. 9, Ground Floor, Shiv Shakti Industrial Estate, J. R. Boricha Marg, Lower Parel (E), Mumbai - 400011, Maharashtra, India
- Website
- https://www.purvashare.com/
Company Contact Details
- Company Name
- Millworks Technologies Limited
- cs@millworksindia.com
- Phone
- +91 9187045959
- Contact Person
- Mr. Srivathsan K N, Company Secretary and Compliance Officer
- Corporate Identity Number
- U29200KA2021PLC153863
- Address
- No.458/1, 10th A Cross, Phase-4, Peenya Industrial Area, Peenya Small Industries, Bangalore, Bangalore North, Karnataka, India – 560058
- Website
- https://millworksindia.com/
Millworks Technologies Limited FAQs
