Millworks Technologies Limited
SMEBSE
Issue details
Price band
₹315 - ₹331
Lot size
400 shares
Issue size
₹160 Cr
Min. investment
₹1,32,400
Registrar
Purva Sharegistry (India)
Grey market premium
Est. gain+₹395 · 119%
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IPO Timeline
Open
14 Jul
Close
16 Jul
Allotment
17 Jul
Listing
21 Jul
- Refunds & demat credit
- 18 Jul 2026
- Mandate end
- 31 Jul 2026
We calculate these dates from the allotment and close dates, so please treat them as indicative.
Application size
| Category | Minimum | Maximum |
|---|---|---|
| Retail | 400shares 1 lot · ₹1,32,400 | 400shares 1 lot · ₹1,32,400 |
| HNI | 800shares 2 lots · ₹2,64,800 | No limit funds permitting |
Based on the upper price band of ₹331 and a lot of 400 shares.
Issue structure
Face value
₹10 per share
Issue type
Bookbuilding IPO
Sale type
Fresh capital only
Fresh issue
₹146 Cr
44,20,000 shares
Shares pre-issue
1,27,70,755
Shares post-issue
1,76,14,755
Reservation
- QIB
- 22,09,200
- NII
- 6,63,600
- Retail
- 15,47,200
Valuation & ratios
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | 29.02 | 21.04 |
| P/E | 11.4 | 15.73 |
| Market cap | ₹422.71 Cr. | ₹1,163.10 Cr |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 69.94% |
| ROCE | 56.44% |
| Debt/Equity | 0.21 |
| RoNW | 44.83% |
| PAT Margin | 24.91% |
| EBITDA Margin | 36.71% |
| NAV | 64.73 |
| Price to Book Value | 5.11 |
Financials
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| 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 |
| Assets | 198.37 | 39.82 | 10.54 |
| Reserves & surplus | 69.9 | 23.25 | 2.28 |
| Total borrowing | 17.02 | 9.63 | 4.57 |
Figures in ₹ crore, as reported by the company in its offer document.
Objects of the issue
- 1.Funding capital expenditure of Company to purchase Plant and Machinery₹61.03 Cr
- 2.Funding the working capital requirements of the Company₹81.5 Cr
- 3.General Corporate Purposes₹9.71 Cr
- 4.Issue Expenses₹8.1 Cr
What the company says it intends to do with the money raised.
Recent comparable IPOs
| Company | Issue price | P/E | Listing close | Listing gain |
|---|---|---|---|---|
| Apsis Aerocom Ltd.SME | ₹110 | 14.58 | ₹160.65 | +46.05% |
| Digilogic Systems Ltd.SME | ₹104 | 28.52 | ₹79.05 | -23.99% |
| Shree Refrigerations Ltd.SME | ₹125 | 23.81 | ₹175.40 | +40.32% |
| Aequs Ltd.Mainboard | ₹124 | -74.71 | ₹151.29 | +22.01% |
Past listing performance of comparable issues. This is not a forecast: listing gains vary widely and can turn negative.
Issue fundamentals compiled from the company's offer document via Chittorgarh, last read 27 Sep 2026. Always verify against the RHP before applying.