Ahead of IPO, Millworks Tech raises nearly Rs 44 cr from anchor investors

Millworks Technologies, a manufacturer of high-accuracy machined components, on Monday raised nearly Rs 44 crore from anchor investors ahead of its initial public offering, which is scheduled to open for subscription on July 14.

In the anchor round, the Bengaluru-based company allocated 13.25 lakh equity shares at Rs 331 per share to nine entities, including Rajasthan Global Securities, Evergrow Capital Opportunities Fund and Inti Capital VCC - Inti Capital I, among others. The aggregated value of shares allocated to anchor investors stood at Rs 43.86 crore, according to a circular uploaded on the BSE's website.

The Rs 160.33-crore initial public offering (IPO) will conclude on July 16 and the company's shares are proposed to be listed on the BSE SME platform. The tentative listing date for the IPO has been fixed as July 21.


The IPO is entirely a fresh issue of up to 48.44 lakh equity shares with a price band of Rs 315-331 per share.

At the upper end of the price band, the company is expected to garner Rs 160.33 crore from the public issue.

The net proceeds from the IPO will be utilised for capital expenditure to purchase plant and machinery, working capital requirements and the general corporate purposes.

"Our IPO marks the beginning of a new chapter that will accelerate our growth, expand our capabilities and strengthen our commitment to innovation," said Sridhar Acharya, Promoter & MD of Millworks Technologies Ltd.

Millworks Technologies specialises in the design, development and production of high-precision components and assemblies for the railway, aerospace, defence, metro rail, drone and semiconductor industries.

In FY26, the company posted a revenue of Rs 148.76 crore and a net profit of Rs 37 crore. GYR Capital Advisors is the sole book-running lead manager for the IPO.