Millworks Technologies opens its ₹160.34 crore IPO on July 14, 2026, with shares priced between ₹315 and ₹331. The precision engineering firm has seen strong interest in the unlisted market, where shares trade at a 119% premium. Investors should note this is a fresh issue primarily aimed at funding new machinery and working capital.
Precision engineering firm Millworks Technologies is set to launch its Initial Public Offering (IPO) on July 14, 2026. The company plans to raise ₹160.34 crore through this public issue, which will be listed on the BSE SME platform. The subscription window remains open for three days, closing on July 16, 2026.
IPO Details and Investment Size
The company has set a price band of ₹315 to ₹331 per share. Unlike many larger IPOs that include an offer for sale by existing shareholders, this offering consists entirely of a fresh issue of 4.8 million equity shares. This means all the money raised will go directly to the company to support its business operations. Investors interested in participating must bid for a minimum lot size of 800 shares. Given the price band, this requires a minimum investment of ₹264,800 for retail participants. Bids can be made in multiples of 400 shares beyond the initial lot.
Market Sentiment and Grey Market Trends
Ahead of the official opening, the stock has generated significant interest in the unofficial or grey market. Current unofficial trading data suggests the shares are commanding a premium of approximately ₹395 over the upper price band of ₹331. This implies a potential listing premium of nearly 119%. While this high premium often reflects strong investor sentiment and expectations for growth, it is important to remember that grey market prices are unofficial and can be volatile. They do not guarantee the actual listing price on the exchange once trading officially begins.
Use of Funds and Future Outlook
According to the company’s red herring prospectus, the primary goal of this capital raise is to support expansion. The funds are designated for purchasing new plant and machinery, which is intended to increase manufacturing capacity. Additionally, a portion of the proceeds will be used for general working capital needs.
For investors, the key monitorable will be the company’s ability to successfully execute its expansion plans. As a precision engineering firm, the business is capital-intensive and relies on efficient utilization of its machinery to maintain profit margins. Investors may track the progress of the capacity expansion and whether the company can sustain its growth in demand post-listing. The allotment of shares is expected to be finalized on July 17, with the official listing on the BSE SME platform scheduled for July 21, 2026.