Millworks Technologies IPO: Dates, Price Band, GMP 2026

What the SME IPO is offering

Millworks Technologies Ltd. is set to launch its SME public issue on the BSE SME platform through a book build issue. The IPO is a 100% fresh issue, with a total issue size of ₹160.34 crore. The offer comprises 48,44,000 equity shares in total. The company’s issue structure also includes 4,24,000 shares allotted on a firm basis, and the net offer to the public is stated as 44,20,000 shares after that exclusion. The face value is ₹10 per share.

Key dates: opening, closing, allotment, listing

The IPO opens for subscription on 14 Jul 2026 and closes on 16 Jul 2026. The basis of allotment is shown as 17 Jul 2026 (tentative). Shares are scheduled to list on BSE SME, with 21 Jul 2026 mentioned as the tentative listing date. These dates matter for applicants planning UPI mandate timelines and for tracking allotment status soon after the close.

Price band, issue price, and application lot size

Millworks Technologies has fixed the price band at ₹315 to ₹331 per share. Multiple parts of the provided material also refer to ₹331 as the issue price. The lot size is 400 shares. One section also states a minimum investment of about ₹2.65 lakh and provides an example investment of ₹2,64,800 for two lots (800 shares) at ₹331 per share. Investors should note that the minimum application size is also described as 400 shares in the same material, while another portion references 800 shares as a practical minimum for retail in the example calculation.

Grey market premium (GMP): what the data shows

The IPO’s grey market premium is shown in a range across updates. One part cites a GMP of ₹350 per share (105.74%), while another section says the GMP reached ₹400 per share (120.85%) as of 11 July. A separate line also mentions “GMP Around ₹400”. These figures are presented as indicators of secondary market sentiment tracked by grey market platforms, not as confirmed listing outcomes.

Another important detail in the supplied content is that gains for SME IPOs are capped at 90 percent. That cap is referenced alongside the GMP discussion, highlighting that implied gains from GMP tracking may not translate one-to-one into actual listing performance in the SME segment.

Snapshot of the issue (as provided)

GMP trend updates reported in the market

The supplied GMP table provides day-by-day updates for several dates leading up to the issue opening. The latest value in that table is ₹400 on 11 July, after ₹350 on 9 and 10 July, and ₹280 on 8 July. These updates are presented as “live” GMP tracking and include percentage gain estimates versus the upper price band.

Company profile and end-markets

Millworks Technologies Ltd. is described as a precision engineering company. It manufactures high-accuracy machined components, sheet metal parts, and integrated assemblies. The company’s products are positioned for mission-critical applications across railways, aerospace, defence, and semiconductor industries. The material also describes the company as Bengaluru-based, aligning with the address provided in the document.

Financial growth points highlighted

The provided content highlights a sharp year-on-year change in operating performance, stating that revenue increased by 584% and profit after tax (PAT) rose by 606% between the financial year ending 31 March 2026 and 31 March 2025. It also lists headline figures of revenue at ₹153.40 crore and net profit at ₹37.06 crore.

A longer growth snapshot is also included based on earlier financial periods: revenue is shown as ₹1.774 crore in FY2023 (₹177.40 lakh), rising to ₹22.1001 crore in FY2025 (₹2,210.01 lakh), and ₹65.7144 crore for an eight-month stub period ending 30 Nov 2025 (₹6,571.44 lakh). The same section states that the annualised FY2026 revenue implied by that run-rate exceeds ₹98 crore (more than ₹9,800 lakh). Separately, it states revenue has grown about 3,703% from FY2023 to the annualised 8M FY2026 run rate, while PAT has grown about 6,193% over the same period.

What the numbers mean for investors tracking the issue

The combination of a ₹160.34 crore fresh issue, a ₹315 to ₹331 price band, and a GMP range cited at ₹350 to ₹400 has put the IPO in focus among SME-market followers. The example calculation provided shows an estimated listing price of ₹676 if the stock were to list at the GMP, implying a gain of ₹2,76,000 on a two-lot application of ₹2,64,800. At the same time, the document also flags that SME IPO gains are capped at 90 percent, which is a practical constraint investors must factor in when interpreting grey market indicators.

Issue contacts and registered address (as provided)

The company’s address is listed as No. 458/1, 10th A Cross, Phase-4, Peenya Industrial Area, Peenya Small Industries, Bangalore Urban, Karnataka 560058. Contact details include Phone: +91 9187045959, Email: cs@millworksindia.com, and Website: https://millworksindia.com/.

Conclusion

Millworks Technologies’ SME IPO opens on 14 Jul 2026 with a ₹315 to ₹331 band and a ₹160.34 crore fresh issue, and it is scheduled to list on BSE SME on 21 Jul 2026 (tentative). Grey market tracking in the provided data shows GMP moving from ₹280 to ₹400 in the days leading up to the offer. The next confirmed milestones for applicants are the issue close on 16 Jul and the tentative allotment date on 17 Jul 2026.