Millworks Technologies raises nearly ₹44cr from anchors ahead of IPO
Business
Millworks Technologies, a Bengaluru-based manufacturer for sectors like aerospace and semiconductors, just raised nearly ₹44 crore from anchor investors before its IPO.
Shares were picked up at the top end of the price band, ₹331 each.
The IPO opens July 14 and closes July 16, with a goal to raise about ₹160 crore by issuing new shares.
Millworks Technologies posts ₹37.1cr profit
The company plans to use the funds mainly for buying new machinery and boosting working capital.
Founded in 2021, Millworks already runs four plants in Bengaluru. They've had a strong year too: profits jumped seven times to ₹37.1 crore, with revenues hitting ₹148.8 crore.
Mark your calendar: they're likely to debut on the BSE SME platform on July 21.