Millworks Technologies Ltd

Millworks Technologies Limited informed the Bombay Stock Exchange that its board approved the company's annual report for the financial year 2025-2026 and scheduled its 05th Annual General Meeting for September 29, 2026, via video conference or other audio-visual means, with a record date set for September 22, 2026. The company also appointed FCS Himanshu Surendrakumar Gupta of M/s. Himanshu S K Gupta and Associates, Ahmedabad as scrutinizer for the e-voting process and appointed M/s Himanshu S K Gupta & Associates as Secretarial Auditor for the financial year 2026-27.

Millworks Technologies Limited announced it will convert a Rs 2,74,85,222.35 loan extended to Vidwan Aeronautics Private Limited into equity, acquiring a 67% stake and making Vidwan Aeronautics a subsidiary. The acquisition will involve the subscription of 15,22,727 equity shares of Vidwan Aeronautics at Rs 18.05 per share, with the transaction expected to be completed by September 30, 2026. Vidwan Aeronautics Private Limited, incorporated in 2017, is engaged in the manufacture of high precision Aerospace Engine components and reported a turnover of Rs 2.02 crore for the fiscal year 2025-26.

Millworks Technologies Limited announced that its board approved the conversion of a Rs 2,74,85,222.35 loan extended to Vidwan Aeronautics Private Limited into equity shares, resulting in Millworks Technologies acquiring a 67% stake and making Vidwan Aeronautics a subsidiary. The acquisition will involve the allotment of 15,22,727 equity shares of Vidwan Aeronautics at Rs 18.05 per share, and is expected to be completed by September 30, 2026. Vidwan Aeronautics Private Limited, incorporated in 2017, is engaged in the manufacture of high precision Aerospace Engine components and reported a turnover of Rs 2.02 crore for the fiscal year 2025-26.

The scrip was listed at Rs 628.90, a 90% premium to the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price. The counter hit a high of Rs 660.30 and a low of Rs 628.90. About 11 lakh shares of the company changed hands at the counter. Millworks Technologies' IPO was subscribed 193.14 times. The issue opened for bidding on 14 July 2026 and it closed on 16 July 2026. The price band of the IPO was fixed between Rs 315 to Rs 331 per share. The IPO comprised 48,44,000 equity shares. The company intends to utilize the net proceeds for funding capital expenditure of the company to purchase plant and machinery, funding the working capital requirements of the company and general corporate purposes. Ahead of the IPO, Millworks Technologies on 13 July 2026, raised Rs 43.86 crore from anchor investors. The board allotted 13.25 lakh shares at Rs 331 each to 9 anchor investors. Millworks Technologies is a precision engineering company that manufactures machined components, sheet metal parts, and integrated assemblies for the railways, aerospace, defence, and semiconductor industries. It operates under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, offering end-to-end manufacturing and job-work services tailored to customer specifications. As of 30 April 2026, the company had a total of 161 employees. The company recorded revenue from operations of Rs 148.77 crore and net profit of Rs 37.06 crore for the period ended 31 March 2026. Powered by Capital Market - Live