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Fri, 04 Sept 2026
04:47:22 pm
Fri, 04 Sept 2026
04:47:22 pm
Rudransh Sangwan
Published at: July 21, 2026, 6:15 AM
Synopsis
Millworks Technologies shares debuted at ₹628.90 on the BSE SME platform, a 90% premium over the IPO price of ₹331, following an IPO that was subscribed 193.14 times.
Millworks Technologies Ltd made a stellar stock market debut on July 21, 2026, with its shares listing at ₹628.90 on the BSE SME platform, representing a 90% premium over the IPO issue price of ₹331. The strong listing followed overwhelming investor demand for the company's ₹160.34 crore IPO, which was subscribed 193.14 times during the bidding period.
The listing reflects continued investor appetite for quality SME public issues, particularly companies operating in high-growth sectors such as aerospace, defence, railways, semiconductors and precision engineering.
Shares of Millworks Technologies debuted at ₹628.90, hitting the maximum permissible listing gain of 90% over the issue price on the BSE SME platform.
The company's initial public offering (IPO) was open for subscription between July 14 and July 16, attracting bids for 67.96 crore shares against 35.18 lakh shares offered, highlighting exceptionally strong investor demand.
| Particular | Details |
|---|---|
| Listing Price | ₹628.90 |
| IPO Price | ₹331 |
| Listing Premium | 90% |
| Issue Size | ₹160.34 crore |
| Listing Platform | BSE SME |
The public issue received an overwhelming response across investor categories, with the IPO being subscribed 193.14 times overall.
Retail investors emerged as the strongest participants, subscribing their reserved portion 216.46 times, while the Non-Institutional Investor (NII) category was subscribed 194.05 times, reflecting broad-based demand for the issue.
| Category | Subscription |
|---|---|
| Overall Subscription | 193.14x |
| Retail Investors | 216.46x |
| Non-Institutional Investors (NII) | 194.05x |
The IPO consisted entirely of a fresh issue of 48.44 lakh equity shares, with no Offer for Sale (OFS) component. The shares were offered in a price band of ₹315 to ₹331 per share.
The minimum application size for retail investors was 800 shares (two lots), requiring an investment of ₹2,64,800 at the upper end of the price band.
The company plans to utilise the IPO proceeds for capacity expansion, working capital requirements and general corporate purposes.
| Purpose | Amount |
|---|---|
| Plant & Machinery | ₹61.03 crore |
| Working Capital | ₹81.50 crore |
| General Corporate Purposes | Remaining Amount |
Ahead of the IPO opening, Millworks Technologies raised nearly ₹44 crore from nine anchor investors, including Rajasthan Global Securities and Evergrow Capital Opportunities Fund.
The issue also witnessed strong activity in the Grey Market Premium (GMP) before listing. Market trackers had indicated a GMP of around ₹395 per share, implying a potential premium of nearly 120% over the issue price. However, under SME listing norms, the stock listed at the maximum permissible 90% premium.
Millworks Technologies Ltd is a precision engineering company that manufactures high-precision machined components, sheet metal parts and integrated assemblies for industries such as aerospace, defence, railways, metro rail, drones and semiconductors.
The company operates under Build-to-Print (BTP) and Build-to-Spec (BTS) manufacturing models, supplying precision components to original equipment manufacturers (OEMs). During FY26, domestic sales contributed 73% of total revenue, while exports accounted for 27%.
Millworks Technologies shares listed at ₹628.90 on the BSE SME platform, representing a 90% premium over the IPO issue price of ₹331.
The IPO was subscribed 193.14 times overall, with the retail investor category subscribed 216.46 times and the NII category subscribed 194.05 times.
The company plans to use the IPO funds for purchasing plant and machinery, meeting working capital requirements and general corporate purposes.
Millworks Technologies manufactures precision machined components, sheet metal parts and integrated assemblies used in aerospace, defence, railways, metro rail, drones and semiconductor industries.
The company raised ₹160.34 crore through a fresh issue of 48.44 lakh equity shares, with no Offer for Sale component.
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