Millworks Technologies Delivers 100% Returns On Listing Day, Hits 5% Upper Circuit

The SME stock listed at a 90% premium to its issue price and hit the 5% upper circuit, rewarding IPO investors with nearly 100% gains in a single trading session

Outlook Business Desk

Curated by: Satyam Mishra

Published At: 21 July 2026 2:32 pm

Millworks Technologies Delivers 100% Returns On Listing Day, Hits 5% Upper Circuit

Summary of this article

Millworks Technologies hit the 5% upper circuit after listing at a 90% premium.
IPO investors earned nearly 100% returns as shares rallied on debut.
The ₹160.34-crore IPO was subscribed 193.14 times, led by strong retail demand.

Shares of Millworks Technologies were locked in the 5% upper circuit on Tuesday after a stellar stock market debut, extending gains to deliver nearly 100% returns to IPO investors within hours of listing.

The stock surged to ₹660.30, up 5% from its listing price, after debuting at ₹628.90 on the BSE SME platform against its issue price of ₹331, representing a 90% listing premium. By around 10:30 a.m., the shares remained locked at the upper circuit.

4 July 2026

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The sharp rally meant investors allotted shares in the IPO saw gains of nearly 100% on the first day of trading.

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IPO Attracts Massive Demand

The strong market debut followed overwhelming investor interest in the company's ₹160.34-crore initial public offering, which was subscribed 193.14 times during the bidding period from July 14 to July 16.

The IPO received bids for 67.96 crore shares against 35.19 lakh shares on offer.

Retail investors led the subscription, with their portion subscribed 216.46 times, while the non-institutional investor (NII) category was booked 194.05 times, reflecting broad-based demand for the issue.

Expansion Plans

Millworks Technologies reported revenue of ₹148.77 crore and a profit after tax of ₹37.06 crore for the financial year ended March 2026.

The company plans to utilise the IPO proceeds to expand its manufacturing capacity. Around ₹61.03 crore has been earmarked for the purchase of plant and machinery, ₹81.50 crore for working capital requirements, while the remaining funds will be used for general corporate purposes.

Millworks Technologies manufactures precision-engineered machined components, sheet metal parts and integrated assemblies for sectors such as aerospace, defence, railways, metro rail, drones and semiconductors. The company operates under Build-to-Print and Build-to-Spec models, supplying components to original equipment manufacturers (OEMs).

For FY26, domestic sales contributed 73% of total revenue, while exports accounted for the remaining 27%, highlighting the company's growing international presence.