The domestic primary market is buzzing with intense retail enthusiasm as the Grey Market Premium (GMP) for the upcoming Millworks Technologies IPO reached an exceptional high. Ahead of its official launch, the SME-segment public issue is already demonstrating monumental investor sentiment, indicating a bumper debut on the stock exchanges. Market analysts and retail investors are closely tracking the premium movement of this entirely fresh equity issue, which is poised to become one of the most highly anticipated public offerings in the current financial quarter.Subscription Timelines and Issue Structure: Retail Windows Locked for Next WeekThe highly anticipated public issue is formally scheduled to open for retail and institutional bidding on Tuesday, July 14, 2026. Bidders will have a strict three-day subscription window closing on Thursday, July 16, 2026. The company aims to raise an aggregate capital of ₹160.34 crore through this public offering, which comprises entirely a fresh issue of 4.8 million equity shares. Crucially, there is no Offer for Sale (OFS) component in the structure, meaning existing promoters and early institutional investors are retaining their entire stakes, signalizing long-term operational commitment to prospective shareholders.Lot Size Restrictions and Price Band Allocation: Minimum Investment Requirements RevealedThe corporate board, in consultation with its financial advisors, has fixed the equity price band at ₹315 to ₹331 per share. The institutional lot size for the SME IPO is capped at 400 shares. However, under the specific application mandates, retail individual investors are required to place a minimum bid on two lots, totaling 800 shares. This structural mandate places the minimum financial commitment or ticket size for any retail applicant at a fixed ₹264,800, setting a definitive entry benchmark for retail market participants looking to maximize their allotment chances.Grey Market Premium Explosion: Investors Gain Projects a Stellar First-Day ListingAccording to top tracking platform Investors Gain, the unlisted shares of the engineering and technology firm are trading at a massive premium of ₹400 in the grey market today. When calculated against the upper price band of ₹331, the current GMP indicates a staggering 120% listing gain on Day 1, projecting an estimated opening price of ₹731 per share. Financial tracking models show that the premium has sustained exceptional stability, with its lowest trading benchmark recorded at a comfortable ₹350 per share, reinforcing strong demand in off-market transactions.Strategic Capital Allocation: Purchase of Plant Machinery and Working Capital InjectionThe company has outlined a clear operational roadmap for utilizing the ₹160.34 crore net proceeds from the public offering. Millworks Technologies will deploy ₹61.03 crore for core capital expenditures, specifically focusing on the acquisition of advanced high-tech plant and machinery to ramp up production capacity. Additionally, ₹81.50 crore will be infused to meet expanded working capital requirements to manage expanding order books. To ensure smooth execution, GYR Capital Advisors Private Limited has been appointed as the book-running lead manager, while Purva Sharegistry (India) Pvt. Ltd. will serve as the official registrar.Unprecedented Net Profit Surge: Financial Statements Show Seven-Fold Growth in FY26The massive grey market demand is backed by phenomenal operational performance over the last two fiscal periods. During the fiscal year ending March 2026 (FY26), Millworks Technologies registered a spectacular seven-fold surge in net profit, jumping to ₹371 million ($4.5 million) compared to just ₹52 million in the previous fiscal year. Total operational revenue for FY26 also witnessed a parallel explosion, touching ₹1488 million compared to ₹221 million in the preceding year, showcasing rapid scalability and strong corporate governance metrics that continue to boost investor confidence.
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