Millworks Technologies will finalize the share allotment for its Rs 160.34 crore SME IPO today. The issue saw massive interest with an overall subscription of 193.14 times. Investors are now tracking the listing scheduled for July 21, 2026, following a strong grey market premium.
Investors who applied for the Millworks Technologies SME initial public offering (IPO) will receive clarity on their allotment status today, July 17, 2026. The company’s public issue, which concluded on July 16, witnessed high demand from various investor categories, resulting in an overall subscription of 193.14 times the available shares.
Retail investors were particularly active, subscribing 216.46 times the portion set aside for them. The non-institutional investor segment also saw strong participation, with a subscription rate of 194.05 times its allocated quota. This high level of demand is a key factor for those who participated in the bidding process.
IPO Pricing and Fund Usage
The company priced its shares at Rs 331 per share, which was the upper end of the Rs 315-Rs 331 price band. The IPO consisted entirely of a fresh issue of 48.44 lakh equity shares. Millworks Technologies plans to use the majority of the proceeds to support its business operations. Specifically, Rs 61.03 crore is earmarked for purchasing new plant and machinery, while Rs 81.50 crore is allocated to meet working capital requirements. The remaining funds are intended for general corporate expenses.
Market Sentiment and Listing Expectations
The grey market premium (GMP), which reflects the unofficial demand for shares before they trade on the stock exchange, was reported at Rs 400 per share as of today. This premium suggests that market participants are anticipating a significant gain compared to the issue price of Rs 331. However, investors should note that the grey market is an unofficial, unregulated space, and these premiums can be volatile and do not always accurately predict the actual opening price on the day of listing.
Since this is an SME (Small and Medium Enterprise) IPO, the stock will debut on the BSE SME platform. The tentative date for the shares to begin trading is July 21, 2026. Because SME stocks often have different liquidity profiles and trading lot requirements compared to mainboard stocks, investors should keep this in mind when planning their strategy for the listing day. The final test for the company will be its ability to deploy the raised capital effectively into its planned machinery and working capital projects to drive future growth.