Millworks Technologies plans ₹160 cr IPO

Millworks Technologies, a leading manufacturer of high-accuracy machined components, plans to raise ₹160 crore through initial public offering on BSE SME platform.

The company will issue 48.44 lakh equity shares in the price band of ₹ 315-₹ 331 a share. The IPO will open for subscription on Tuesday.

The net proceeds from the IPO will be used for capital expenditure to purchase Plant and Machinery, working capital requirements and the general corporate purposes.

GYR Capital Advisors will be the Book Running Lead Manager to the issue while Purva Sharegistry (India) has been appointed as the Registrar.

Sridhar Acharya, Promoter & Managing Director, Millworks Technologies said the company has adopted latest technology to ensure best of quality standards through a dedication of team.

The IPO marks the beginning of a new chapter that will accelerate growth, expand capabilities and strengthen commitment to innovation, he added.

Millworks Technologies has demonstrated impressive execution capabilities by building a diversified business across mission-critical industries in a relatively short period, said GYR Capital Advisors.

The company’s strong operational foundation, expanding manufacturing footprint and commitment to quality positions it well to capitalise on emerging opportunities from India’s manufacturing and defence ecosystem, it added.