Millworks Technologies IPO Details
Millworks Technologies IPO Summary
Millworks Technologies IPO opens for subscription on 14 Jul 2026 and closes on 16 Jul 2026.The IPO will be listed on BSE with the tentative listing date set for 21 Jul 2026.
Millworks Technologies IPO price band has been fixed at ₹315 – ₹331 per share. The face value is ₹10 per share with a lot size of 400.
Millworks Technologies IPO total issue size comprises 48,44,000 shares (aggregating up to ₹160.34 Cr). This includes a fresh issue of 48,44,000 shares (aggregating up to ₹160.34 Cr). Offer for Sale consists of 50,00,000 shares . Pre-issue shareholding stands at 1,27,70,755, which will increase to 1,76,14,755 post-issue.
Millworks Technologies IPO carries a ₹395 (119.34%) GMP, reflecting investor sentiment.
Millworks Technologies IPO Lot Size :Individual Minimum is 2 lots (800 shares) amounting to ₹264,800. Individual Maximum is 2 lots (800 shares) amounting to ₹264,800. SHNI Minimum is 3 lots (1,200 shares) amounting to ₹397,200. SHNI Maximum is 7 lots (2,800 shares) amounting to ₹926,800. BHNI Minimum is 8 lots (3,200 shares) amounting to ₹1,059,200.
Millworks Technologies IPO Details
Millworks Technologies IPO Subscription
Millworks Technologies IPO Application Wise Breakup
Millworks Technologies IPO Dates
- 14 Jul 2026Opening dateOpen
- 16 Jul 2026Closing dateClose
- 17 Jul 2026Allotment Date Allotment
- 20 Jul 2026Initiation of RefundsRefund
- 20 Jul 2026Credit of SharesCredit
- 21 Jul 2026Listing dateListing
Millworks Technologies IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Minimum | 2 | 800 | ₹264,800 |
| Individual Maximum | 2 | 800 | ₹264,800 |
| SHNI Minimum | 3 | 1200 | ₹397,200 |
| SHNI Maximum | 7 | 2800 | ₹926,800 |
| BHNI Minimum | 8 | 3200 | ₹1,059,200 |
Millworks Technologies IPO Reservation
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Millworks Technologies IPO Valuations
Millworks Technologies Financial Information
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 198.37 | 39.82 | 10.54 |
| Total Income | 153.40 | 22.42 | 9.40 |
| Profit After Tax | 37.06 | 5.25 | 1.95 |
| EBITDA | 56.30 | 7.89 | 2.78 |
| NET Worth | 82.67 | 23.31 | 2.33 |
| Reserves and Surplus | 69.90 | 23.25 | 2.28 |
| Total Borrowing | 17.02 | 9.63 | 4.57 |
| Amount in ₹ Crore | |||
About Millworks Technologies IPO
Incorporated in November 2021, Millworks Technologies Limited is a precision engineering and manufacturing company specializing in the design, development, and production of high-precision components and assemblies for the railway, aerospace, defence, metro rail, drone, and semiconductor industries. The company manufactures a wide range of mission-critical products, including railway coach components, braking systems, door mechanisms, metro train couplers, aerospace and aeronautical components, drone parts, and precision components for semiconductor manufacturing equipment.
Business Verticals:
- Aerospace: Precision-machined components and sub-assemblies used in aero-engine applications.
- Defense: Machined components and sub-assemblies such as missile airframe components, guidance system housings, structural brackets and mounts, and hydraulic cylinder parts, etc.
- Railways: Precision components used in train control and rolling stock infrastructure, and manufacturing components for train and metro door systems, including parts used in 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, etc.
Its operations are executed under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, along with full-scope manufacturing and job-work arrangements. Under the Build-to-Print (BTP) model, it manufactures components strictly in accordance with customer-supplied drawings and technical specifications. In contrast, the Build-to-Spec (BTS) model involves producing components based on functional and performance requirements defined by customers to deliver solutions aligned with their operational objectives.
As of March 31, 2026, the company 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 equipment, and dedicated assembly and inspection areas.
As of April 30, 2026, the company employed 161 permanent personnel across production, quality, design, administration, finance, HR, and management functions.
Competitive Strengths:
- Precision Engineering Capability and Manufacturing of Complex Components Across Diverse Materials
- Certified Quality Management Systems Supporting Process
- Comprehensive Manufacturing Infrastructure
- Global Customer Relationships and Export-Oriented Business Operations
- Structured Research and Development Function
- Experienced Management and Skilled Technical Workforce
- Strong order book of Rs 9,594.45 lakhs (As of Jan 10, 2026)
Business Verticals:
- Aerospace: Precision-machined components and sub-assemblies used in aero-engine applications.
- Defense: Machined components and sub-assemblies such as missile airframe components, guidance system housings, structural brackets and mounts, and hydraulic cylinder parts, etc.
- Railways: Precision components used in train control and rolling stock infrastructure, and manufacturing components for train and metro door systems, including parts used in 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, etc.
Its operations are executed under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, along with full-scope manufacturing and job-work arrangements. Under the Build-to-Print (BTP) model, it manufactures components strictly in accordance with customer-supplied drawings and technical specifications. In contrast, the Build-to-Spec (BTS) model involves producing components based on functional and performance requirements defined by customers to deliver solutions aligned with their operational objectives.
As of November 30, 2025, the company 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.
Strength Of Millworks Technologies IPO
- Experienced Promoters having deep domain knowledge to scale up the business.
- Management team with an established track record.
- Established track record of successfully completed orders.
- Efficient operational team.
Risk Of Millworks Technologies IPO
- The company's revenues has exhibited significant fluctuations in the past and may continue to vary in the future, which may adversely affect its business, financial condition and results of operations.
- The company's high level of trade receivables relative to its revenue from operations indicates elongated working capital cycles and exposes the company to collection risks, which may adversely affect its liquidity and financial condition.
- A substantial portion of the Company's revenue for the period ended March 31, 2026 was derived from its first/top customer. Accordingly, any reduction, delay, or termination of business from such customer, or the loss of such customer for any reason, could materially and adversely affect the Company's revenues, profitability, financial condition.
- Dependency on Certain Business Partners for Defense Sector Project Execution.
- The Company has some instances of non-compliances and delayed compliances with some statutory provisions of the Companies Act 2013 and delayed compliance may attract penalties against the company which could impact the financial position of its to that extent.
- The company is dependent on a few customers for a significant portion of its revenues. Further the company generally does not enter into long-term arrangements with its customers and any failures to continue the company's existing arrangements could adversely affect its business and results of operations.
- The markets in which the company's customers compete is characterized by sectors specific to the industries which its cater to, and their rapidly changing preferences and other related factors including lower manufacturing costs. Accordingly, the company may be affected by any disruptions in the industry which can adversely impact its business, financial condition, results of operations, cash flows and prospects.
- Any failures to compete effectively in the highly competitive global industry of high precision and critical components manufacturing could have a material adverse effect on the company's business, results of operations, financial condition, cash flows and future prospects.
- The Company has negative cash flows during certain fiscal years in relation to its operating, investing and financing activities. Sustained negative cash flows in the future would adversely affect the company's results of operations and financial condition.
- The company's business is working capital intensive. Any insufficient cash flows from its operations or inability to borrow to meet its working capital requirements, it may materially and adversely affect the company's business and results of operations.
Objectives Millworks Technologies IPO
1. Funding capital expenditure of our company to purchase Plant and Machinery
2. Funding the working capital requirements of the company
3. General Corporate Purposes
Company Contact Details
No.458/1, 10th a Cross, Phase-4, Peenya Industrial Area, Peenya Small Industries
Bangalore Urban, Karnataka , 560058
Phone: +91 9187045959
Email: cs@millworksindia.com
Website: https://millworksindia.com/
Registrar Contact Details
Millworks Technologies FAQs
The Millworks Technologies IPO is a SME public issue comprising 4844000 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹160.34 Cr. The issue price has been fixed at ₹331 per equity share, and the minimum application size is 400 shares.
The IPO opens for subscription on 14 Jul 2026, and closes on 16 Jul 2026.
Purva Sharegistry India Pvt Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the BSE
As of now, the current GMP stands at ₹395 (119.34%).
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