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  1. Millworks Technologies IPO
Millworks Technologies IPO
219.13xsubscribed

Millworks Technologies IPO

Engineering
listed
₹2.52LMin. investment

Millworks Technologies Limited IPO Details

SectorEngineering
Price range₹315 – ₹331
IPO type
SME
Lot size400 shares
Issue size₹160Cr
Red Herring Prospectus
Read
Market cap
₹583.05CrLower than sector avg
RevenueApr 2025 - Mar 2026
₹148.77CrLower than sector avg
Growth rate3Y CAGR
298%Higher than sector avg

Millworks Technologies IPO Subscription Status

Date
QIB
NII
Retail
Total
14-Jul-26
0.0 times (X)
13.38 times (X)
15.75 times (X)
10.74 times (X)
15-Jul-26
0.22X
68.96X
71.73X
50.71X
16-Jul-26
194.05X
260.85X
215.57X
219.13X

As on 14-Jul-26, 5:30 PM

Millworks Technologies IPO Timeline

  1. Pre-apply
    13 Jul 2026
  2. Bid start
    14 Jul 2026
  3. Bid end
    16 Jul 2026
  4. Allotment
    17 Jul 2026
  5. Release of funds
    20 Jul 2026
  6. Demat transfer
    20 Jul 2026
  7. Listing
    21 Jul 2026

About Millworks Technologies Limited

Incorporated in 2021, Millworks Technologies is a precision engineering company that manufactures machined components, sheet metal parts, and integrated assemblies which are used in critical applications across the railway, aerospace, defence, and semiconductor industries.
The company supplies components and assemblies to Original Equipment Manufacturers (OEMs) operating in high-precision engineering sectors. It works under both Build-to-Print (BTP) and Build-to-Spec (BTS) models. Under the BTP model, it manufactures products as per customer drawings, while under the BTS model, it works closely with customers to develop products that meet specific performance requirements. It also undertakes both full-scale manufacturing and job-work assignments which allows it to cater to a wide range of customer requirements.
Millworks Technologies operates four manufacturing facilities as of March 2026, all located in Bengaluru, Karnataka. The company operates in major sectors: Defence, Railways, Semiconductor and Aerospace. For the aerospace industry, it manufactures components such as turbochargers, fuel filters, turbine blades and nozzle components used in aero engines. Its defence portfolio includes missile airframe components, guidance system housings, structural brackets, hydraulic cylinder parts, as well as drone-related products including structural frames, motor housings, and BLDC motor stators and rotors.
For railway applications, it manufactures components used in braking systems, train and metro door systems, couplers and pantograph systems. In the semiconductor machinery segment, it supplies machine base frames, precision brackets, alignment plates, equipment housings, and chip handling and load-testing fixtures. The Defence segment generated ₹10,325.82 lakhs, accounting for 69.43% of total revenue in FY26, compared with 6.81% in FY25, followed by Railway business at 23.65%.
During FY26, exports accounted for 27.47% of revenue from operations. The Company supplied products to customers across 9 countries, including Canada, the USA, Israel, Germany, France, North Macedonia, Italy, the UK and the Czech Republic, mainly serving the aerospace and semiconductor machinery industries. Among overseas markets, Israel contributed 22.39% of total revenue from operations in FY26, making it the largest export destination. The Company served 74 customers in FY26, compared with 46 customers in FY25 and 40 customers in FY24. Repeat customers accounted for 44.59% of the total customer base in FY26. As of June 5, 2026, the Company had a pending order book worth ₹6,062.44 lakhs.

Checklist

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Objectives of Millworks Technologies Limited IPO

Working capital
50.80%
The company will use ₹81.50 crore for working capital requirements of business.
Capital Expenditure
38.10%
The company will use ₹61.03 crore for purchase of plant and machinery.
General corporate purposes
11.10%
Part of the IPO proceeds will be used for general corporate purposes and issue expenses

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹148.77Cr298%₹37.06Cr₹583.05Cr10.790.21
This sector (avg.)₹342.41Cr0.01%₹38.53Cr₹1,862.48Cr31.540.53
₹10,670.1Cr---₹1,263.5Cr₹39,460.23Cr31.400.10
₹2,217.81Cr---₹423.66Cr₹10,977.95Cr26.730
₹3,087.59Cr---₹471.9Cr₹9,693.55Cr18.040.01

*Revenue for financial year 2025-26. Lower P/E and D/E ratios are generally preferred.

Millworks Technologies IPO Contact Details

Company NameMillworks Technologies Limited

How to apply for Millworks Technologies IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Millworks Technologies Limited IPO FAQs

Investors can apply for the Millworks Technologies IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Millworks Technologies IPO is 160 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Millworks Technologies IPO will be open between 2026-07-14 and 2026-07-16.
Millworks Technologies IPO allotment date is 2026-07-20. For Millworks Technologies IPO allotment status check, you can visit the website of the registrar of the IPO.
For Millworks Technologies IPO, the IPO registrar is PURVA SHAREGISTRY (INDIA) PVT. LTD.. You can check Millworks Technologies IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Millworks Technologies IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Millworks Technologies IPO lot size is 400 and minimum order quantity is 800.
Millworks Technologies IPO has set the price band for its IPO at 331 per equity share with a face value of 10.