Investors are showing strong interest in the Millworks Technologies IPO. The public issue received an overwhelming response soon after opening and was subscribed 1.74 times within the first hour.
The company’s shares are also attracting attention in the grey market, where they are trading at a 90% premium.
The IPO will remain open for subscription until July 16, and the total issue size is ₹160 crore.
Grey Market Premium Signals Strong Listing
The IPO price has been fixed at ₹331 per share. In the grey market, the stock is currently trading at a premium of around ₹300.
Based on the current Grey Market Premium (GMP), the shares could list at around ₹631, although GMP is unofficial and does not guarantee the listing price.
The IPO allotment is expected to be finalized on July 17, while the shares are likely to be listed on the stock exchanges on July 21, 2026.
Retail Investors Show Huge Interest
The IPO was subscribed 1.74 times within just one hour of opening.
Retail investors subscribed their portion 2.37 times, while the Non-Institutional Investor (NII) category was subscribed 2.59 times by 11 AM on Tuesday.
Retail investors can apply for a maximum of 2 lots, which together include 800 shares.
What Does Millworks Technologies Do?
Founded in November 2021, Millworks Technologies Limited is a precision engineering and manufacturing company.
The company designs and manufactures high-precision components for industries such as:
Railways
Aerospace
Defence
Metro Rail
Drones
Semiconductor manufacturing
Its product portfolio includes railway coach parts, braking systems, door mechanisms, metro train couplers, aerospace components, drone parts, and equipment used in semiconductor manufacturing.
How Will the IPO Money Be Used?
The company plans to use the funds raised from the IPO to:
Buy new plant and machinery
Meet working capital requirements
Support general corporate purposes
Before the IPO, the company’s promoters—Sridhar Acharya, H.K. Madhu, Soumya Madhu, and Rashmi Sridhar Acharya—held a 65.08% stake in the business.
