Millworks Technologies IPO day 3: Issue subscribed 193 times; GMP hints at 118% listing pop; key details of BSE SME IPO

Millworks Technologies IPO day 3: The initial public offering (IPO) of precision engineering company Millworks Technologies witnessed strong investor demand, while robust grey market premiums reflect bullish sentiment toward the stock.

Millworks Technologies IPO opened for public subscription on Tuesday, 14 July, and concluded on Thursday, 16 July. The BSE SME IPO was entirely a fresh issue of 48,44,000 shares of face value of ₹10 each.

Ahead of the IPO, the company raised ₹43.86 crore from anchor investors by issuing 13,25,200 shares to four anchor investors at a bid price of ₹331 per share.

Millworks Technologies IPO GMP

According to grey market sources, the GMP of Millworks Technologies shares was ₹390 on Thursday evening. This indicates the stock could list at a strong premium of over 118% over its issue price.

Millworks Technologies IPO subscription status

By 6:56 PM on Thursday, the issue had seen an overall subscription of 193.21 times, with the retail portion booked 216.60 times, and the segment reserved for NIIs subscribed to 159.26 times. QIB's portion was booked 194.05 times till that time.

Millworks Technologies IPO details

1. Millworks Technologies IPO date: The SME IPO opened for subscription on Tuesday, 14 July. It closed on Thursday, 16 July.

2. Millworks Technologies IPO price: The price band of the public issue was fixed at ₹315 to ₹331 per share.

3. Millworks Technologies IPO objects: According to the RHP, the company will use the net proceeds from the issue to purchase plant and machinery, to meet working capital requirements, and for general corporate purposes.

4. Millworks Technologies IPO size: The BSE SME IPO was a fresh issue of 48,44,000 shares of face value of ₹10 each. There was no offer for sale (OFS) portion in the issue.

5. Millworks Technologies IPO lot size: Retail investors could bid for a minimum and maximum of 800 shares, aggregating to ₹2,64,800.

6. Millworks Technologies IPO reservation: QIBs, including anchor investors, were offered 22,09,200 shares (45.61% of the total issue). Retail investors were offered 15,47,200 shares, or 31.94% of the total issue. The company reserved 6,63,600 (13.70% of the total issue) for NIIs.

7. Millworks Technologies IPO allotment date: The company is expected to finalise the share allotment on Friday, 17 July. Successful bidders can expect shares of the company in their demat accounts on the next business day, Monday, 20 July, and bidders who fail to get the allocation may get a refund on the same day.

8. Millworks Technologies IPO book-running lead manager and registrar: According to the issue's Red Herring Prospectus (RHP), GYR Capital Advisors Private Limited is the book-running lead manager, and Purva Sharegistry (India) Private Limited is the registrar of the Millworks Technologies IPO.

9. Millworks Technologies IPO listing: As per SEBI's T+3 rule of IPO listing, the IPO is proposed for listing on the BSE SME on Tuesday, 21 July.

10. Millworks Technologies business overview: As per the issue RHP, Millworks Technologies is a precision engineering company engaged in the manufacture of machined components, sheet metal parts, and integrated assemblies used in mission-critical applications across the railways, aerospace, defence, and semiconductor sectors.

For FY26, its revenue from operations was ₹148.77 crore, of which 27.47% was derived from exports to customers located in 9 countries, including Canada, the US, Israel, Germany, France, Macedonia, Italy, the United Kingdom, and the Czech Republic, said the company. Profit for the last financial year was ₹37.1 crore.

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