Millworks Technologies IPO Subscribed 219.54 Times on Day 3

Millworks Technologies Limited's initial public offering (IPO) closed with a blockbuster overall subscription of 219.54 times by 6:54 PM on Day 3 (July 16, 2026). The ₹160.34 crore book-built BSE SME issue, priced at ₹315 to ₹331 per share, received bids for 67,94,40,800 shares against 30,94,800 shares on offer, with total applications reaching 4,92,473. Non-Institutional Investors led the demand with big-HNI bids near 290x, while retail and QIB categories also witnessed exceptional participation across all three days.

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Subscription Status of Millworks Technologies IPO

Here are the subscription details for Millworks Technologies IPO Day 3, as of 6:54 PM:

Key Highlights – Day 3

• Overall subscription surged to 219.54 times on Day 3 (July 16, 2026), a sharp jump from 50.57x on Day 2, reflecting an exceptional finish for this precision engineering SME issue.
• Non-Institutional Investors (NIIs) were the standout category at 260.37 times, with big-ticket bNII bids at a blockbuster 289.84x and sNII at 201.44x. Retail Individual Investors subscribed 216.60 times, drawing bids worth ₹11,092.50 crore against a reserved portion of ~₹51.21 crore.
• Qualified Institutional Buyers (Ex-Anchor) turned decisively active on the final day, closing at 194.05 times after a near-flat run through the first two days

Key Highlights – Day 2

• Overall subscription surged to 50.57 times on Day 2 (July 15, 2026), up sharply from 10.74x on Day 1, as HNI and retail momentum built ahead of the closing day.
• Retail Individual Investors led Day 2 activity at 71.73 times, taking the retail category deep into oversubscribed territory.
• Non-Institutional Investors (NIIs) subscribed 68.32 times, with bNII bids at 73.13x outpacing sNII at 58.69x — a clear signal of aggressive big-HNI conviction.
• Qualified Institutional Buyers (Ex-Anchor) remained largely inactive at 0.22 times, in line with the typical pattern of institutional bids landing on the final day.

Key Highlights – Day 1

• Overall subscription stood at 10.74 times on Day 1 (July 14, 2026), reflecting a strong opening with the issue fully subscribed multiple times over on the very first day.
• Retail Individual Investors led the opening day at 15.75 times, showcasing robust retail appetite from the outset.
• Non-Institutional Investors (NIIs) subscribed 13.38 times, with sNII at 13.98x slightly ahead of bNII at 13.07x, indicating balanced HNI demand. Qualified Institutional Buyers (Ex-Anchor) stayed on the sidelines at 0.00 times, holding fire for the final day as expected.

About Alpine Texworld Limited

Bengaluru-based Millworks Technologies Limited is an AS9100D-certified precision engineering company that designs and manufactures high-accuracy machined components, sheet metal parts, sub-assemblies and integrated assemblies for aerospace, defence, railways, semiconductors, drones and instrumentation. It operates on Build-to-Print (BTP) and Build-to-Spec (BTS) models, serving OEMs and Tier-1/Tier-2 suppliers across India, North America, Europe, the Middle East and South Asia. The company runs four advanced manufacturing facilities in Bengaluru, equipped with 3-, 4- and 5-axis CNC machining, wire EDM, fibre laser cutting and dedicated assembly units. FY26 revenue jumped to ₹148.77 crore with PAT of ₹37.06 crore, versus ₹22.10 crore and ₹5.25 crore in FY25.