Millworks Technologies Ipo
Millworks Technologies IPO Review & Key Points
Review: May Apply
IPO Lead Managers aka Merchant Bankers
GYR Capital Advisors Pvt. Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | July 14, 2026 |
| IPO Close Date | July 16, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹315 to ₹331 Per Share |
| Issue Size | Approx ₹160.34 Crores |
| Fresh Issue | Approx ₹160.34 Crores |
| Issue Type | Book-build Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 800 | ₹2,64,800 |
| Retail Maximum | 2 | 800 | ₹2,64,800 |
| S-HNI Minimum | 3 | 1,200 | ₹3,97,200 |
| S-HNI Maximum | 7 | 2,800 | ₹9,26,800 |
| B-HNI Minimum | 8 | 3,200 | ₹10,59,200 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 13,25,200 Shares | 27.36% |
| QIB (Ex. Anchor) | 8,84,000 Shares | 18.25% |
| NII Shares Offered | 6,63,600 Shares | 13.70 |
| Retail Shares Offered | 15,47,200 Shares | 31.94% |
| Anchor Bidding Date | July 13, 2026 |
| Anchor Investors List | |
| Shares Offered | 13,25,200 Shares |
| Anchor Size | 43.86 Cr. |
| lock-in period end date 50% shares (30 Days) | Aug 16, 2026 |
| lock-in period end date 50% shares (90 Days) | Oct 15, 2026 |
| IPO Open Date: | July 14, 2026 |
| IPO Close Date: | July 16, 2026 |
| Basis of Allotment: | July 17, 2026 |
| Refunds: | July 20, 2026 |
| Credit to Demat Account: | July 20, 2026 |
| IPO Listing Date: | July 21, 2026 |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,27,70,755 | 65.08% |
| Promoter Holding Post Issue | 1,76,14,755 | -% |
| Purpose | Crores |
| Funding capital expenditure of our company to purchase Plant and Machinery | ₹61.03 |
| Funding the working capital requirements of the company | ₹87.00 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ₹9.40 | ₹7.02 | ₹1.95 | ₹10.54 |
| 2025 | ₹22.42 | ₹15.33 | ₹5.25 | ₹39.82 |
| 2026 | ₹153.40 | ₹103.10 | ₹37.06 | ₹198.37 |
| KPI | Values |
| ROE: | 69.94% |
| ROCE: | 56.44% |
| EBITDA Margin: | 36.71% |
| PAT Margin: | 24.91% |
| Debt to equity ratio: | 0.21 |
| Earning Per Share (EPS): | ₹30.67 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 44.83% |
| Net Asset Value (NAV): | ₹64.73 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Unimech Aerospace and Manufacturing Ltd | 12.44 | 87.87 | 8.58% | 144.99 | 287.46 Cr. |
| Azad Engineering Ltd | 20.57 | 96.45 | 8.74% | 236.74 | 648.63 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |