Millworks Technologies IPO listing: Millworks Technologies share price made a stellar debut and jumped further to hit its upper circuit on Tuesday, 21 July, despite weak market sentiment.
The SME stock debuted at ₹628.90 on the BSE SME, up 90% from its issue price of ₹331 and surged further to hit its 5% upper price band of ₹660.30. The stock was locked at its upper price band around 10:30 AM, while equity benchmark Sensex was 0.26% down at 77,506.
Even though the stock made a stellar debut, it fell short of grey market expectations, as the last grey market premium (GMP) for Millworks Technologies shares was ₹395, suggesting the stock could list at a premium of more than 119%.
Millworks Technologies IPO details
Millworks Technologies IPO, which was a fresh issue of 48,44,000 shares of face value of ₹10 each, opened for public subscription on Tuesday, 14 July, and concluded on Thursday, 16 July.
With a price band of ₹315 to ₹331 per share, the issue was aimed at raising ₹160.34 crore, which the company will use to purchase plant and machinery, to meet working capital requirements, and for general corporate purposes.
The issue was subscribed to 193 times, with the retail portion booked nearly 217 times, and the segment reserved for NIIs subscribed to 159 times. QIB's portion was booked 194 times.
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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