Millworks Technologies IPO
Millworks Technologies IPO closed on 16 Jul 2026. Allotment 17 Jul 2026, listing 21 Jul 2026. Price band ₹315–₹331, lot 400 shares, GMP +₹395 (119.33%). Track allotment on Allotly.
| Status | Closed |
|---|---|
| Category | SME · BSE |
| Price band | ₹315–₹331 |
| Lot size | 400 shares |
| Minimum investment | ₹2,64,800 |
| Issue size | ₹160.34 Cr |
| GMP | +₹395 (119.33%) |
| Open date | 14 Jul 2026 |
| Close date | 16 Jul 2026 |
| Allotment date | 17 Jul 2026 |
| Listing date | 21 Jul 2026 |
About Millworks Technologies
Millworks Technologies Limited is a precision engineering company engaged in manufacturing machined components, sheet metal parts, and integrated assemblies used in mission-critical applications across the railways, aerospace, defence, and semiconductor sectors. The company operates under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, manufacturing products based either on customer drawings or functional and performance requirements. It also undertakes job-work assignments and primarily supplies to original equipment manufacturers (OEMs). Its manufacturing capabilities include precision machining, sheet metal fabrication, sub-assembly, welding, and inspection, supported by four manufacturing facilities in Bengaluru equipped with advanced CNC machines and quality testing infrastructure. The company maintains AS9100D and ISO 9001:2015 certified quality management systems across…
Strengths
- Experienced promoters with deep domain knowledge in precision engineering.
- The management team has an established execution and operating track record.
- Proven history of successfully completing customer orders across sectors.
- Precision manufacturing capabilities across machining, sheet metal fabrication, and sub-assemblies under both Build-to-Print and Build-to-Spec models.
- Four manufacturing facilities in Bengaluru support production for railways, aerospace, defence, and semiconductor customers.
Risks
- Revenue has fluctuated significantly in the past and may continue to remain volatile.
- High trade receivables increase working capital needs and collection risk.
- Rising raw material prices could adversely affect profitability.
- The business has high working capital requirements, which may impact operations and liquidity.
- Changes in the Ministry of Railways’ policies could negatively affect the business.