MILLWORKS TECHNOLOGIES LIMITED

14 Jul 2026 - 16 Jul 2026 SME BSE

Min Investment

₹2,64,800.00

Price Band

₹315-₹331

Issue Size

₹116.47 Cr

Lot Size

400 (per lot)

IPO Dates
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14 Jul 2026

Open Date

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16 Jul 2026

Close Date

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17 Jul 2026

Allotment Date

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21 Jul 2026

Listing Date

Know Before Investing

Strengths icon

  • Experienced promoters with deep domain knowledge in precision engineering.
  • The management team has an established execution and operating track record.
  • Proven history of successfully completing customer orders across sectors.
  • Precision manufacturing capabilities across machining, sheet metal fabrication, and sub-assemblies under both Build-to-Print and Build-to-Spec models.
  • Four manufacturing facilities in Bengaluru support production for railways, aerospace, defence, and semiconductor customers.

Weaknesses icon

  • Revenue has fluctuated significantly in the past and may continue to remain volatile.
  • High trade receivables increase working capital needs and collection risk.
  • Rising raw material prices could adversely affect profitability.
  • The business has high working capital requirements, which may impact operations and liquidity.
  • Changes in the Ministry of Railways’ policies could negatively affect the business.

About Millworks Technologies Limited

Millworks Technologies Limited is a precision engineering company engaged in manufacturing machined components, sheet metal parts, and integrated assemblies used in mission-critical applications across the railways, aerospace, defence, and semiconductor sectors. The company operates under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, manufacturing products based either on customer drawings or functional and performance requirements. It also undertakes job-work assignments and primarily supplies to original equipment manufacturers (OEMs). Its manufacturing capabilities include precision machining, sheet metal fabrication, sub-assembly, welding, and inspection, supported by four manufacturing facilities in Bengaluru equipped with advanced CNC machines and quality testing infrastructure. The company maintains AS9100D and ISO 9001:2015 certified quality management systems across its facilities. It generates revenue from manufacturing and supplying precision-engineered components, with exports contributing a portion of its revenue through sales to customers across multiple international markets.

IPO Objectives

1. Funding capital expenditure of our company to purchase Plant and Machinery;

2. Funding the Working Capital requirements of the company;

3. General Corporate Purposes

Company Promoters

H K Madhu

Rashmi Sridhar Acharya

Sowmya Madhu

Sridhar Acharya

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 194.05
Non-Institutional Buyers 159.24
Retail Investors 216.46
Total 569.75
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