Millworks Technologies Limited, a Bengaluru-based precision engineering company, will open its Initial Public Offering (IPO) on Tuesday, July 14, 2026. The company aims to raise approximately ₹160.33 crore at the upper price band, with equity shares to be listed on the BSE SME platform.
IPO Details and Issue Structure
The IPO consists of 48,44,000 equity shares, each with a face value of ₹10. The price band is set between ₹315 and ₹331 per share. The anchor bidding is scheduled for Monday, July 13, 2026, and the issue will close on Thursday, July 16, 2026.
The equity shares are allocated as follows: Qualified Institutional Buyers (QIBs) will receive up to 22,09,200 shares, Non-Institutional Investors (NIIs) at least 6,63,600 shares, Individual Investors at least 15,47,200 shares, and Market Makers 4,24,000 shares.
Use of IPO Proceeds
Net proceeds from the IPO will be used for capital expenditure to purchase plant and machinery, working capital requirements, and general corporate purposes.
Company Overview
Millworks Technologies manufactures high-accuracy machined components, sheet metal parts, sub-assemblies, and integrated assemblies under Build-to-Print (BTP) and Build-to-Spec (BTS) models. The company serves regulated and mission-critical sectors, including aerospace, defence, railways, and semiconductors, adhering to stringent Original Equipment Manufacturer (OEM) specifications.
For the fiscal year 2026 (FY26), the company reported revenue of ₹14,876.70 lakhs, EBITDA of ₹5,630.43 lakhs, and profit after tax (PAT) of ₹3,706.39 lakhs.
Management and Advisor Statements
Mr. Sridhar Acharya, Promoter & Managing Director of Millworks Technologies, stated, "Every great journey begins with a vision. At Millworks Technologies, our vision was to build a globally trusted precision engineering company capable of delivering world-class solutions for mission-critical industries. Over the years, we have transformed this vision into reality through technological excellence, unwavering quality standards, and the dedication of our talented team. Our IPO marks the beginning of a new chapter that will accelerate our growth, expand our capabilities, and strengthen our commitment to innovation."
A representative from GYR Capital Advisors Private Limited, the Book Running Lead Manager to the issue, commented, "Millworks Technologies has demonstrated impressive execution capabilities by building a diversified business across mission-critical industries in a relatively short period. The Company's strong operational foundation, expanding manufacturing footprint, and commitment to quality position it well to capitalize on the opportunities emerging from India's manufacturing and defence ecosystem. We are proud to have supported the Company in achieving this significant milestone on its journey of growth and expansion."
Registrar and Listing Details
The Registrar for the IPO is Purva Sharegistry (India) Private Limited. The equity shares are proposed to be listed on the BSE SME platform.
