Millworks Technologies IPO
Market Sentiment
IPO Details
Market Lot Size
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Day-wise Subscription (times subscribed)
Financial Analysis
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 9.40 | 22.42 | 153.40 |
| Expense | 7.02 | 15.33 | 103.10 |
| Profit (PAT) | 1.95 | 5.25 | 37.06 |
| Total Assets | 10.54 | 39.82 | 198.37 |
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Unimech Aerospace and Manufacturing Ltd | 12.44 | 87.87 | 8.58 | 144.99 | 287.46 Cr |
| Azad Engineering Ltd | 20.57 | 96.45 | 8.74 | 236.74 | 648.63 Cr |
Promoters: Sridhar Acharya, H K Madhu, Sowmya Madhu and Rashmi Sridhar Acharya
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,27,70,755 | 65.08% |
Strengths & Risks
- Heavily oversubscribed — 219.6x overall (final).
- Strong institutional (QIB) demand — 194.1x.
- Revenue grew 584% in the latest reported year.
- Solid profit margin — 24.2%.
- Strong return on equity — 70%.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Millworks Technologies Ltd. is one of the leading engineering companies that designs High-accuracy machined components, Sheet metal parts, and Integrated assemblies serving railways, aerospace, defence, and semiconductor industries. The firm manufactures its products in various ways as per the customer’s needs. It manufactures parts using the customer’s design (Build-to-Print) as well as the customer’s specifications (Build-to-Spec), managing the complete manufacturing process from start to finish. The firm runs 4 advanced manufacturing facilities in Bengaluru, Karnataka. Its manufacturing facility is equipped with 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, making it an integrated unit.
Millworks Technologies Ltd., No.458/1, 10th a Cross, Phase-4,, Peenya Industrial Area, Peenya Small Industries, Bangalore Urban, Karnataka, 560058
| Purpose | Amount (Cr) |
|---|---|
| Funding capital expenditure of our company to purchase Plant and Machinery | 61.03 |
| Funding the working capital requirements of the company | 87.00 |
| General Corporate Purpose | - |
Resources & Documents
Millworks Technologies has set a price band of Rs 315–Rs 331 per share for an issue size of Rs 160 crore. The stock listed with a 90.00% gain versus its issue price on July 21, 2026.
Millworks Technologies Ltd. is one of the leading engineering companies that designs High-accuracy machined components, Sheet metal parts, and Integrated assemblies serving railways, aerospace, defence, and semiconductor industries.
The issue is promoted by Sridhar Acharya, H K Madhu, Sowmya Madhu and Rashmi Sridhar Acharya with GYR Capital Advisors Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding capital expenditure of our company to purchase Plant and Machinery (Rs 61 crore) and Funding the working capital requirements of the company (Rs 87 crore).
On fundamentals, the company is posting revenue growth of 584.2%, a profit margin of 24.2%, return on equity of 69.9% in its most recent reported period. Listed peers in this segment include Unimech Aerospace and Manufacturing Ltd (P/E 87.87x) and Azad Engineering Ltd (P/E 96.45x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
On our data-signal score, the combined signals for this issue currently read very strong — GMP, subscription demand and fundamentals are all reading positively. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Millworks Technologies IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full Millworks Technologies GMP history and trend, or learn how grey market premium works and how reliable it is.
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