Millworks Technologies SME IPO Set for Massive Rally as Grey Market Premium Surges Past 120% Ahead of July 14 Launch

Millworks Technologies SME IPO Set for Massive Rally as Grey Market Premium Surges Past 120% Ahead of July 14 Launch​

The investor excitement surrounding the Millworks Technologies SME initial public offering (IPO) is reaching a fever pitch. The company's grey market premium (GMP) has surged significantly, signaling robust interest ahead of its public subscription opening on July 14. This high momentum positions the IPO for potentially strong listing gains as investors await the allocation process.

Grey Market Premium Signals Strong Investor Interest​

The GMP data suggests that Millworks Technologies is poised for a major debut. As reported by Investorgain and IPO Watch, the premium stood at Rs 331 per share on July 13, indicating an estimated listing gain of 119.34% over the issue price. This impressive surge underscores the market's confidence in the company's near-term prospects.

The IPO is valued at around Rs 160.34 crore based on the current pricing structure. It comprises a fresh issue of 48.44 lakh equity shares and does not include an offer for sale (OFS). The price band has been set between Rs 315 and Rs 331 per share, with a standard lot size consisting of 400 shares.

IPO Structure and Allocation Details​

The public subscription window is scheduled to open on July 14 and close on July 16. Retail investors who wish to apply must commit to a minimum investment of two lots, or 800 shares, which totals Rs 2,64,800 based on the upper price band. The allotment is tentatively expected on July 17, while the listing on the BSE SME platform is scheduled for July 21.

The post-issue valuation of Millworks Technologies stands at approximately Rs 583 crore, reflecting significant growth potential in the market's eyes. The proceeds from the fresh issue will be strategically utilized by the company across several key areas.

Corporate Funding and Purpose of Issue​

Millworks Technologies plans to allocate the net IPO proceeds toward expanding its operational capabilities and strengthening its financial foundation. A portion of the funds, amounting to Rs 61.03 crore, is specifically earmarked for the purchase of plant and machinery. Additionally, Rs 81.50 crore has been allocated to meet working capital requirements, with the remaining balance designated for general corporate purposes.

Financial Performance Highlights​

The company's recent financial performance has been marked by exceptional growth across all metrics. Millworks Technologies reported a net profit rise of more than seven-fold in FY26, achieving Rs 37.1 crore from Rs 5.2 crore in the preceding financial year. Revenue also saw nearly a seven-fold increase to Rs 148.8 crore from Rs 22.1 crore over the same period.

Further strengthening its narrative, the company had reported impressive growth in FY25. During that fiscal year, net profit nearly tripled and revenue more than doubled compared to FY24 figures. These strong historical performances underpin the high investor expectations set by the IPO.

Business Profile and Operational Focus​

Millworks Technologies specializes in manufacturing precision-machined components, sheet metal parts, and integrated assemblies. Its products are critical inputs for mission-critical sectors such as aerospace, defence, railways, metro rail, drone, and semiconductor industries. The company operates using Build-to-Print and Build-to-Spec engagement models, supplying these specialized components to original equipment manufacturers (OEMs).

Geographically, the business shows a robust domestic focus. Domestic sales accounted for 73 percent of the FY26 revenue, while international exports contributed the remaining 27 percent. The company's operational scope ensures it remains vital to several high-tech and strategic industries across India.