The minimum application is 800 shares, ₹2,64,800 at the ₹331 cut-off. Since 1 July 2025 SME issues take a minimum application of ₹2,00,000 or more from individual investors; the HNI minimum is set in the RHP. Amounts are shown at the upper band because applications are made at the cut-off price.
Millworks Technologies IPO Strengths & Risks as disclosed in the DRHP
▲ Strengths (6)
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 (8)
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.
Allotment is decided and published by the issue’s registrar, not by the exchange and not by alphave. For Millworks Technologies Limited, the registrar is Purva Sharegistry India Private Limited — allotment is finalised in the days between the issue closing on 16 Jul 2026 and listing on 21 Jul 2026.
By Purva Sharegistry; check with PAN, application no. or DP ID
Refunds & UPI unblockTentative
Mon, 20 Jul, 2026
Unallotted amounts released · allotted shares credited to demat
Listing
Tue, 21 Jul, 2026
BSE SME · trading from 10:00 am IST
Allotment and refund dates follow SEBI’s T+3 listing timeline in trading days and are tentative until the registrar and the exchange confirm them. alphave does not hold allotment results — only the registrar can show whether an application was allotted.
The registrar publishes allotment on its own portal: Purva Sharegistry. Your bank will also show the blocked amount released if shares were not allotted.
Millworks Technologies IPO Listing Date & Price FAQs
When will Millworks Technologies IPO list?
The Millworks Technologies Limited shares are scheduled to list on 21 July 2026 on BSE SME. The listing price is discovered in a special pre-open session from 9:00 am and normal trading begins at 10:00 am IST.
What was the Millworks Technologies IPO listing price?
Millworks Technologies Limited listed at ₹628.9, a gain of 90.0% on the ₹331 issue price.
At what time does an IPO list?
On listing day the exchange runs a special pre-open session for the new stock from 9:00 am IST in which orders are collected and the listing price is discovered; continuous trading in the shares begins at 10:00 am IST.
Millworks Technologies IPO Registrar where allotment and refund queries go
RegistrarPurva Sharegistry India Private Limited
The registrar processes the allotment and the refunds. Contact details are as printed in the offer document; the exchange and your broker cannot change an allotment.
How to Apply for the Millworks Technologies IPO ASBA and UPI, as SEBI sets them
Apply through your broker’s IPO window or your bank’s net banking (ASBA). The money stays in your own account and is only blocked until allotment.
Choose the number of lots and bid at the cut-off price. SME issues take a minimum application of two lots, so the smallest valid bid is the amount shown in the lot table above.
If you applied through a broker, approve the UPI mandate in your payment app. The mandate must be approved by 5 pm on the day after your bid, and by 5 pm on the closing day for bids made on the last day (16 Jul 2026).
One application per PAN. A second application under the same PAN is rejected, and both may be.
After allotment the blocked amount is released for shares not allotted. Allotment and refund queries go to the registrar, Purva Sharegistry India Private Limited, not to the exchange or the broker.
What is GMP in an IPO?
Grey Market Premium is the price at which an unlisted IPO application or share changes hands informally, before the stock is listed on the exchange. It is quoted as a rupee figure over the issue price: a premium of ₹395 on a ₹331 upper band means the grey market is dealing at ₹726.
The grey market is an over-the-counter market between private dealers. It is not operated or supervised by NSE, BSE or SEBI, no trade is settled through a clearing corporation, and no dealer is obliged to publish or honour a quote. Figures are collected by third-party reporters and different sources routinely disagree, which is why a premium can move sharply within a day or vanish entirely once bidding closes.
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.