Millworks Technologies SME IPO Set for Allotment Today as Grey Market Premium Hits 120%
The allotment status for the Rs 160.34-crore BSE SME initial public offering (IPO) of Millworks Technologies is scheduled to be finalized today. This follows a massive surge in investor interest during the subscription period from July 14 to July 16.The issue witnessed an overwhelming response, being subscribed 193.14 times overall. Data from the BSE confirms that bids were received for 67,96,30,000 shares against the 35,18,800 shares on offer.
Retail investors spearheaded this momentum by subscribing to 216.46 times the portion reserved for them. The non-institutional investor (NII) category also displayed significant appetite, with its quota booked nearly 194.05 times.
Massive Grey Market Premium Signals Potential Listing Gains
The public issue has maintained a strong position in the grey market ahead of final allotment. According to Investorgain, the grey market premium (GMP) stood at Rs 400 per share on the morning of July 17.This premium represents an estimated listing gain of 120.85 percent over the issue price of Rs 331. IPO Watch also independently pegged the GMP at Rs 400, reinforcing the high demand for the offering.
The company established a price band of Rs 315 to Rs 331 per share with a lot size of 400 shares. Retail investors were required to apply for a minimum of two lots, totaling 800 shares for Rs 2,64,800 at the upper price band.
Issue Structure and Strategic Fund Utilization
The IPO consists of a fresh issue of 48.44 lakh equity shares without any offer-for-sale component. At the upper end of the price band, the issue is valued at approximately Rs 160.34 crore, bringing the post-issue valuation to around Rs 583 crore.Anchor investor bidding concluded on July 13, where the company successfully raised nearly Rs 44 crore from nine entities. This group includes notable names such as Rajasthan Global Securities and Evergrow Capital Opportunities Fund.
The company intends to deploy the net proceeds from the fresh issue strategically. Specifically, Rs 61.03 crore is earmarked for the purchase of plant and machinery, while Rs 81.50 crore is allocated for working capital requirements. The remaining funds will be used for general corporate purposes.
How to Verify Millworks Technologies IPO Allotment Status
Investors can verify their allotment status online through the official BSE website or via the registrar's portal. There are two primary methods available for checking current status:To check on the BSE Website, investors should visit the BSE allotment status page and select Equity from the Issue Type dropdown. After choosing Millworks Technologies from the Issue Name list, users must enter their Application Number and PAN to view the results after captcha verification.
Alternatively, the registrar's website (Purva Sharegistry) provides a dedicated IPO query page. Investors can select Millworks Technologies from the company dropdown and search using their Application Number, CAF No, Beneficiary ID, or PAN. After entering the details and captcha, the allotment status will be displayed on the screen.
Company Profile and Listing Schedule
Millworks Technologies is a precision engineering firm manufacturing high-accuracy machined components and sheet metal parts for critical sectors including aerospace, defence, railways, metro rail, drones, and semiconductors. The company serves original equipment manufacturers (OEMs) under Build-to-Print and Build-to-Spec models.In FY26, domestic sales contributed 73 percent of the total revenue, with exports making up the remaining 27 percent. Following the finalization of allotment today, the shares are tentatively scheduled to list on the BSE SME platform on July 21, 2026.
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