Divya Agarwal
Mumbai (Maharashtra) [India], July 9: Millworks Technologies Limited is engaged in manufacturing of high-accuracy machined components, sheet metal parts, sub-assemblies, and integrated assemblies under Build-to-Print (BTP) and Build-to-Spec (BTS) engagement models, proposes to open its Initial Public Offering on Tuesday, July 14, 2026 aiming to raise ₹ 160.33 Crore (At Upper Price Band), with shares to be listed on the BSE SME.
The issue size is 48,44,000 equity shares with a face value of ₹ 10 each with a price band of ₹ 315 – ₹ 331 Per Share.
Equity Share Allocation
- Qualified Institutional Buyer – Not more than 22,09,200 Equity Shares
- Non-Institutional Investors – Not less than 6,63,600 Equity Shares
- Individual Investors – Not less than 15,47,200 Equity Shares
- Market Maker – Issue of 4,24,000 Equity Shares
The net proceeds from the IPO will be utilized for capital expenditure to purchase Plant and Machinery, working capital requirements and the general corporate purposes. The anchor bidding is on Monday, July 13, 2026. The issue will open on Tuesday, July 14, 2026, and closes on Thursday, July 16, 2026.
The Book Running Lead Manager to the Issue is GYR Capital Advisors Private Limited, and the Registrar is Purva Sharegistry (India) Private Limited.
Mr. Sridhar Acharya, Promoter & Managing Director of Millworks Technologies Limited, expressed, “Every great journey begins with a vision. At Millworks Technologies, our vision was to build a globally trusted precision engineering company capable of delivering world-class solutions for mission-critical industries. Over the years, we have transformed this vision into reality through technological excellence, unwavering quality standards, and the dedication of our talented team. Our IPO marks the beginning of a new chapter that will accelerate our growth, expand our capabilities, and strengthen our commitment to innovation.”
Representative of GYR Capital Advisors Private Limited said, “Millworks Technologies has demonstrated impressive execution capabilities by building a diversified business across mission-critical industries in a relatively short period. The Company’s strong operational foundation, expanding manufacturing footprint, and commitment to quality position it well to capitalize on the opportunities emerging from India’s manufacturing and defence ecosystem. We are proud to have supported the Company in achieving this significant milestone on its journey of growth and expansion.”
About Millworks Technologies Limited
Millworks Technologies Limited is a Bengaluru-based precision engineering company serving regulated and mission-critical sectors, including aerospace, defence, railways, and the semiconductor sector. The Company manufactures high-accuracy machined components, sheet metal parts, sub-assemblies, and integrated assemblies under Build-to-Print (BTP) and Build-to-Spec (BTS) engagement models, aligned to stringent Original Equipment Manufacturers specifications.
In FY26, the Company achieved a Revenue of ₹ 14,876.70 Lakhs, EBITDA of ₹ 5,630.43 Lakhs & PAT of ₹ 3,706.39 Lakhs.
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