Millworks Technologies IPO fully subscribed within 1st hour on Tuesday
Business
Millworks Technologies's IPO opened on Tuesday and was fully subscribed within the first hour; pretty impressive for a small and medium enterprise.
More than 3.5 million shares were snapped up, with the price set between ₹315-₹331 per share.
The offer stays open until July 16, so there's still time if you're curious.
Retail investors oversubscribe, profits jump sevenfold
Retail investors really drove the action, subscribing to more than one and a half times their quota, while non-institutional investors weren't far behind.
Millworks is coming off a big year: profits jumped sevenfold to ₹371 million and revenue soared to nearly ₹1.49 billion.
With a gray market premium hinting at possible listing gains of up to 90%, all eyes are on its BSE SME debut slated for July 21.