Millworks Technologies IPO subscribed 2.94 times so far on Day 1; check price band, lot size and key dates

High-accuracy machined component manufacturer Millworks Technologies has been subscribed 2.94 times so far on the first day of the bidding on Tuesday, July 14.

It secured bids for 1,03,28,800 shares compared to 35,18,800 shares on offer, according to the BSE data until 12:01 pm.

The category for non-institutional investors got subscribed 2.47 times, while the individual investors' quota received 4.94 times subscription.

The ₹160.34-crore initial public offering (IPO) will end on July 16. The issue is solely a fresh issuance of up to 48.44 lakh shares with a price range of ₹315 to ₹331 per share.

The funds raised will be used for capital expenditure to purchase plant and machinery, working capital needs and corporate general purposes.

"Our IPO marks the beginning of a new chapter that will accelerate our growth, expand our capabilities and strengthen our commitment to innovation," said Sridhar Acharya, Promoter and MD of Millworks Technologies Ltd.

Millworks Technologies IPO lot size

An application consists of 400 shares. The least investment for an individual investor is two lots or 800 shares.

Millworks Technologies IPO allotment and listing date

Millworks Technologies IPO allotment is expected to be finalised on July 17. The company's shares will be listed on the BSE SME platform on July 21.

Prior to the IPO, the company raised nearly ₹43.86 crore from anchor investors, including Evergrow Capital Opportunities Fund, Rajasthan Global Securities, and Inti Capital VCC – Inti Capital I, among others.

Millworks Technologies holds a specialisation in the design, development and production of high-precision components and assemblies for the aerospace, railway, metro rail, defence, drone and semiconductor industries.

The firm makes a wide range of mission-critical products, including railway coach components, door mechanisms, braking systems, metro train couplers, drone parts, aerospace and aeronautical components, and precision components for semiconductor manufacturing equipment.

In FY26, the company recorded a revenue of ₹148.76 crore and a profit after tax of ₹37 crore. GYR Capital Advisors is the issue's sole book-running lead manager.