Millworks Technologies Limited IPO Details

Factual IPO information from public filings. Not investment advice.

Issue Details

Price Band: ₹315 – ₹331
Lot Size: 400 shares
Min. Investment: ₹1,32,400
Total Issue Size: ₹160.34 Cr; 48,44,000 shares
Fresh Issue: ₹160.34 Cr; 48,44,000 shares
Offer for Sale: ₹0 Cr
Face Value: ₹10 per share
Issue Type: Book-built IPO
Listing At: BSE SME
Shares Pre-Issue: 1,27,70,755
Shares Post-Issue: 1,76,14,755

Lot Size & Investment

1 lot = 400 shares

Retail (min)

2 lots · 800 shares

Retail (max)

2 lots · 800 shares

S-HNI (min)

3 lots · 1,200 shares

Application	Lots	Shares	Amount
Retail	2	800	₹2,64,800
Small HNI (S-HNI)	3	1,200	₹3,97,200
Big HNI (B-HNI)	8	3,200	₹10,59,200

Financial Performance

Restated figures in ₹ crore, unless stated otherwise

Financial performance by period
Period	Mar-26	Mar-25	Mar-24
Assets	198.37	39.82	10.54
Total Income	153.4	22.42	9.4
Profit After Tax	37.06	5.25	1.95
EBITDA	56.3	7.89	2.78
Net Worth	82.67	23.31	2.33
Reserves & Surplus	69.9	23.25	2.28
Total Borrowing	17.02	9.63	4.57

Key Performance Indicators

Key performance indicators
Period	Mar-26
ROE (%)	69.94
ROCE (%)	56.44
EPS (₹)	29.02
P/E (pre-issue)	11.4
P/E (post-issue)	15.73

About Millworks Technologies Limited

Incorporated in November 2021, Millworks Technologies Limited is a precision engineering and manufacturing company specializing in the design, development, and production of high-precision components and assemblies for the railway, aerospace, defence, metro rail, drone, and semiconductor industries. The company manufactures a wide range of mission-critical products, including railway coach components, braking systems, door mechanisms, metro train couplers, aerospace and aeronautical components, drone parts, and precision components for semiconductor manufacturing equipment. Business Verticals: Aerospace: Precision-machined components and sub-assemblies used in aero-engine applications. Defense: Machined components and sub-assemblies such as missile airframe components, guidance system housings, structural brackets and mounts, and hydraulic cylinder parts, etc. Railways: Precision components used in train control and rolling stock infrastructure, and manufacturing components for train and metro door systems, including parts used in door mechanisms and actuators. Semiconductor Machinery: precision-engineered components and fixtures used in semiconductor manufacturing and testing equipment, such as machine base frames, precision brackets and mounts, alignment plates, and equipment housings, etc. Its operations are executed under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, along with full-scope manufacturing and job-work arrangements. Under the Build-to-Print (BTP) model, it manufactures components strictly in accordance with customer-supplied drawings and technical specifications. In contrast, the Build-to-Spec (BTS) model involves producing components based on functional and performance requirements defined by customers to deliver solutions aligned with their operational objectives. As of March 31, 2026, the company operates four advanced manufacturing facilities in Bengaluru, Karnataka. These facilities are equipped with state-of-the-art infrastructure, including CNC machining centers (3-axis, 4-axis, and 5-axis), CNC turning and turn-mill centers, wire EDM machines, fibre laser cutting systems, CNC press brakes, welding equipment, and dedicated assembly and inspection areas. As of April 30, 2026, the company employed 161 permanent personnel across production, quality, design, administration, finance, HR, and management functions. Competitive Strengths: Precision Engineering Capability and Manufacturing of Complex Components Across Diverse Materials Certified Quality Management Systems Supporting Process Comprehensive Manufacturing Infrastructure Global Customer Relationships and Export-Oriented Business Operations Structured Research and Development Function Experienced Management and Skilled Technical Workforce Strong order book of Rs 9,594.45 lakhs (As of Jan 10, 2026) Business Verticals: Aerospace: Precision-machined components and sub-assemblies used in aero-engine applications. Defense: Machined components and sub-assemblies such as missile airframe components, guidance system housings, structural brackets and mounts, and hydraulic cylinder parts, etc. Railways: Precision components used in train control and rolling stock infrastructure, and manufacturing components for train and metro door systems, including parts used in door mechanisms and actuators. Semiconductor Machinery: precision-engineered components and fixtures used in semiconductor manufacturing and testing equipment, such as machine base frames, precision brackets and mounts, alignment plates, and equipment housings, etc. Its operations are executed under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, along with full-scope manufacturing and job-work arrangements. Under the Build-to-Print (BTP) model, it manufactures components strictly in accordance with customer-supplied drawings and technical specifications. In contrast, the Build-to-Spec (BTS) model involves producing components based on functional and performance requirements defined by customers to deliver solutions aligned with their operational objectives. As of November 30, 2025, the company operates four advanced manufacturing facilities in Bengaluru, Karnataka. These facilities are equipped with state-of-the-art infrastructure, including CNC machining centers (3-axis, 4-axis, and 5-axis), CNC turning and turn-mill centers, wire EDM machines, fibre laser cutting systems, CNC press brakes, welding stations, and dedicated assembly and inspection areas. Competitive Strengths: Precision Engineering Capability and Manufacturing of Complex Components Across Diverse Materials Certified Quality Management Systems Supporting Process Comprehensive Manufacturing Infrastructure Global Customer Relationships and Export-Oriented Business Operations Structured Research and Development Function Experienced Management and Skilled Technical Workforce Strong order book of Rs 9,594.45 lakhs (As of Jan 10, 2026)