Millworks Technologies IPO GMP hints at over 100% listing pop; key details of the SME IPO

Millworks Technologies IPO: The initial public offering (IPO) of precision engineering company, Millworks Technologies, is set to open for public subscription on Tuesday, 14 July. The SME IPO is hogging the limelight in the grey market as the grey market premium (GMP) of Millworks Technologies shares hints at an over 100% listing gain.

As per grey market sources, Millworks Technologies IPO GMP on Monday (13 July) morning was ₹395. This indicated the stock could list at ₹726 on the BSE SME, a premium of 119% over the issue price.

Millworks Technologies IPO is a book build issue, entirely a fresh issue of 48,44,000 shares. With a price band of ₹315 to ₹331 per share, the issue is aimed at raising ₹160.35 crore, which the company wants to use for purchasing plant and machinery. Some parts of the net proceeds will be used for meeting working Capital requirements, as well as for general corporate purposes.

Millworks Technologies IPO will open for public subscription on Tuesday, 14 July, and conclude on Thursday, 16 July. Share allotment is expected to be finalised on Friday, 17 July, while the stock is expected to debut on the BSE SME on Tuesday, 21 July.

As per the Red Herring Prospectus (RHP) of the issue, Millworks Technologies is a precision engineering company engaged in the manufacture of machined components, sheet metal parts, and integrated assemblies used in mission-critical applications across the railways, aerospace, defence, and semiconductor sectors.

The company primarily supplies to original equipment manufacturers (OEMs).

"Our operations are undertaken under build-to-print (BTP) and build-to-spec (BTS) engagement models and include both full-scope manufacturing as well as job-work arrangements," reads the RHP.

Under the BTP model, manufacturing is carried out in accordance with customer-provided drawings and technical specifications, while under the BTS model, customers specify functional and performance requirements and the company undertakes manufacturing to meet such specifications.

For FY26, its revenue from operations was ₹148.77 crore, of which 27.47% was derived from exports to customers located in 9 countries, including Canada, the US, Israel, Germany, France, Macedonia, Italy, the United Kingdom, and the Czech Republic, said the company. Profit for the last financial year was ₹37.1 crore.

Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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