Millworks Technologies will open its Rs 160.34 crore SME IPO for subscription on July 14. Investors can apply at a price band of Rs 315-331 per share. The company reported a significant jump in net profit for FY26, though investors should note that SME listing gains are restricted by exchange rules.
Millworks Technologies is set to launch its initial public offering (IPO) for subscription starting July 14, 2026, and closing on July 16, 2026. The company is aiming to raise Rs 160.34 crore through this fresh issue of 48.44 lakh equity shares. There is no offer-for-sale component in this issue, meaning the entire amount raised will be directed toward the company’s own business needs.
The price band for the IPO has been set between Rs 315 and Rs 331 per share. Retail investors interested in participating must place bids for a minimum lot size of 400 shares. At the upper price band of Rs 331, this requires a minimum investment of Rs 1,32,400 per application. The post-issue valuation of the company is estimated at approximately Rs 583 crore.
Regarding the use of proceeds, the company intends to allocate Rs 61.03 crore toward purchasing plant and machinery, supporting its expansion efforts. Additionally, Rs 81.50 crore is earmarked for working capital requirements, which helps cover day-to-day operational costs. The remaining funds are planned for general corporate purposes.
Financially, the company has shown rapid growth leading up to the IPO. In the fiscal year 2026, Millworks Technologies reported a net profit of Rs 37.1 crore, a significant increase from the Rs 5.2 crore profit recorded in the previous year. Revenue similarly grew to Rs 148.8 crore in FY26, up from Rs 22.1 crore in FY25. This growth trajectory will be a primary focus for investors to track, particularly the sustainability of such profit margins as the company scales its operations.
Investors should be aware of the specific dynamics surrounding SME IPOs. While market interest is often reflected in the grey market premium—which has been reported at high levels ahead of the launch—these unofficial premiums do not guarantee actual listing gains. Furthermore, stock exchanges in India have implemented a 90% cap on listing gains for SME IPOs to manage excessive volatility. This regulatory measure is intended to curb speculative trading on the debut day. Potential investors should weigh the company's financial growth against the inherent risks of small-cap public offerings, including lower liquidity and the potential for higher price fluctuations after listing.