Millworks Technologies IPO
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Millworks Technologies IPO details
Schedule of Millworks Technologies
| Issue open date | 14 Jul 2026 |
| Issue close date | 16 Jul 2026 |
| UPI mandate deadline | 16 Jul 2026 (5 PM) |
| Allotment finalization | 17 Jul 2026 |
| Refund initiation | 20 Jul 2026 |
| Share credit | 20 Jul 2026 |
| Listing date | 21 Jul 2026 |
| Mandate end date | 31 Jul 2026 |
| Lock-in end date for anchor investors (50%) | 15 Aug 2026 |
| Lock-in end date for anchor investors (remaining) | 14 Oct 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Millworks Technologies
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.
Financials of Millworks Technologies
Issue size
| Funds Raised in the IPO | Amount (₹ Cr.) |
| Total issue size | 160.34 |
| Fresh issue | 160.34 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Purchase plant and machinery | 61.03 (38.06%) |
| Meet working capital requirements | 81.50 (50.83%) |
| General corporate purposes | 17.81 (11.11%) |
Strengths
- 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.
Risks
- 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.