Millworks Technologies IPO

Millworks Technologies Limited is a listed issue, offered in a price band of ₹315 to ₹331 per share, in lots of 800 shares. Every figure below is taken from the issue's own filings and exchange disclosures.

Issue details

Price band

₹315 – ₹331

Lot size

800 shares

Minimum investment

₹2,64,800

Issue size

₹160.34 Cr

Fresh issue

₹160.34 Cr

Offer for sale

—

Opens

14 Jul 2026

Closes

16 Jul 2026

Listing date

21 Jul 2026

Registrar

Purva Sharegistry India Private Limited

Symbol

MILLWORKS

One lot of 800 shares at the upper band price of ₹331 is ₹2,64,800 — the smallest retail application this issue accepts.

Lead managers: GYR CAPITAL ADVISORS PRIVATE LIMITED.

Subscription status

How many times the issue has been applied for, by investor category, as reported by the exchange at 17 Jul 2026, 08:12 pm IST.

Grey market premium (GMP)

Latest reported GMP

₹395

Implied over upper band

119.30%

As of

21 Jul 2026, 07:06 pm IST

How the reported premium has moved. The trend matters more than any single reading — a premium that is drifting down into the close is a different signal from one holding firm.

Grey Market Premium is an unofficial, unregulated over-the-counter datapoint reported by third parties. It is not a price, a forecast, or an indication of listing gains, and is not investment advice.

Reported financials

As disclosed in the offer document. Figures in ₹ crore unless the filing states otherwise.

Strengths disclosed in the offer document

• The company has precision engineering capabilities and manufactures complex components across diverse materials.
• The company has a strong quality management system certified under AS9100D and ISO 9001:2015.
• The company has experienced promoters with deep domain knowledge and an experienced management team.
• The company has a diversified manufacturing capability spanning precision machining, sheet metal fabrication, sub-assembly, and related processes.
• The company has a broad customer base across aerospace, defence, railways, and semiconductor sectors.
• The company has a global reach with export operations to 9 countries.

Risk factors disclosed in the offer document

• Revenues have exhibited significant fluctuations and may continue to vary, potentially affecting business, financial condition, and results of operations.
• A high level of trade receivables indicates elongated working capital cycles, exposing the company to collection risks.
• A substantial portion of revenue is derived from a single customer, making the company vulnerable to reductions, delays, or termination of business from this customer.
• The company has instances of non-compliance and delayed compliance with statutory provisions, which could lead to penalties and impact financial position.
• The company is dependent on a few customers for a significant portion of its revenues, and failure to maintain existing arrangements could adversely affect business and results of operations.
• The markets in which customers compete are characterized by rapidly changing technology and product innovation, which could impact the company's business.
• Any failure to compete effectively in the highly competitive global industry of high precision and critical components manufacturing could adversely affect business, results of operations, financial condition, cash flows, and future prospects.
• The company has negative cash flows in certain fiscal years, and sustained negative cash flows in the future would adversely affect results of operations and financial condition.

These are the company's own disclosures, not Alphave's assessment. Read the offer document →

What this page will not tell you

Whether to apply

Alphave is NISM-certified, not a SEBI-registered research analyst. There is no rating, verdict or recommendation on this issue anywhere on this page.

What it will list at

Nobody knows, and GMP is not a forecast of it. It is an unofficial over-the-counter quote reported by third parties, shown here with its source time so you can judge how stale it is.

Your allotment

Allotment is decided by the registrar (Purva Sharegistry India Private Limited) after the issue closes. Track the whole calendar in the IPO Centre.

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