Millworks Technologies IPO is a book-built issue aiming to raise ₹160.34 crore through an entirely fresh issue of 48.44 lakh equity shares. The bidding window was open from July 14, 2026, to July 16, 2026, with the IPO allotment expected to be finalised on July 17, 2026. The company is scheduled to list on the BSE SME on July 21, 2026.
The IPO was priced at ₹315-₹331 per share with a lot size of 400 shares. The public issue received bids for 67,94,40,800 shares against 30,94,800 shares available, resulting in an overall subscription of 219.54 times. Non-Institutional Investors (NIIs) led the response, subscribing 260.37 times their quota, followed by Retail Individual Investors at 216.60 times and Qualified Institutional Buyers at 194.05 times.
Millworks Technologies' ₹160.34 crore IPO, priced at ₹315-₹331 per share, was subscribed 219.54 times overall. The IPO consists entirely of a fresh issue of 48.44 lakh equity shares, with no offer for sale component.
Bidding took place from July 14 to July 16, 2026, with the Millworks Technologies IPO allotment status expected on July 17, 2026. Retail investors subscribed 216.60 times, NIIs 260.37 times, and QIBs 194.05 times, while the shares are expected to list on July 21, 2026.
The table below breaks down the Millworks Technologies IPO share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| QIB Shares Offered | 2209200 |
| − Anchor Investor Shares Offered | 1325200 |
| − QIB (Ex. Anchor) Shares Offered | 884000 |
| NII (HNI) Shares Offered | 663600 |
| − bNII > ₹10L | 442400 |
| − sNII < ₹10L | 221200 |
| Retail Shares Offered | 1547200 |
| Market Maker Shares Offered | 424000 |
| Total Shares Offered | 4844000 |
Data Source: BSE
| Category | Subscription (times) |
| Qualified Institutional Buyers | 194.05 |
| Non-Institutional Investors | 260.37 |
| Retail Individual Investors | 216.6 |
| Total shares | 219.54 |
Note: The subscription details are as of July 16, 2026
Millworks Technologies Limited was incorporated in November 2021 and operates as a precision engineering and manufacturing company specialising in the design, development and production of high-precision components and assemblies. The company serves a range of high-growth industries, including railways, aerospace, defence, metro rail, drones and semiconductor manufacturing, supplying mission-critical products that require stringent quality standards.
The company's operations span four key business verticals: aerospace, defence, railways and semiconductor machinery. Its product portfolio includes aero-engine components, missile airframe parts, guidance system housings, train and metro door system components, precision fixtures, equipment housings and other engineered assemblies used in advanced industrial applications. It undertakes manufacturing under both the Build-to-Print (BTP) model, where products are made according to customer drawings, and the Build-to-Spec (BTS) model, where solutions are developed based on customer performance requirements.
As of March 31, 2026, Millworks Technologies operated four advanced manufacturing facilities in Bengaluru, Karnataka. These facilities are equipped with CNC machining centres, CNC turning and turn-mill centres, wire EDM machines, fibre laser cutting systems, CNC press brakes, welding equipment, and dedicated assembly and inspection areas. This manufacturing infrastructure enables the company to deliver precision-engineered components across multiple industries while maintaining quality and production efficiency.
The company is led by its promoters Sridhar Acharya, H. K. Madhu, Sowmya Madhu and Rashmi Sridhar Acharya. Supported by a skilled workforce of 161 permanent employees as of April 30, 2026, Millworks Technologies focuses on expanding its manufacturing capabilities through investments in plant and machinery and working capital. Backed by a strong order book of ₹95.94 crore as of January 10, 2026, the company aims to strengthen its position in the precision engineering sector by serving both domestic and global customers.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jul 16, 2026, 6:46 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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