Millworks Technologies Limited is launching an initial public offering on the Bombay Stock Exchange SME platform to raise approximately Rs 160.33 crore [7].
High activity in the grey market suggests significant investor appetite for the stock before it officially begins trading. This demand often indicates a potential for a high listing price, which can provide the company with a stronger market valuation and immediate capital growth.
Grey-market premium (GMP) data from Monday morning showed a price of ₹395 [1]. Based on this premium, the indicative listing price for the stock is ₹726 [2]. Reports on the expected premium vary across sources, with some citing a 119 percent premium over the issue price [3], and others noting it is over 90 percent [4]. Some reports indicate the GMP has surged as high as 120 percent [5].
The public subscription period for the offering runs from July 14 to July 16, 2026 [6]. The issue includes a fresh issue of 48 units [8].
Investors typically monitor the GMP as an unofficial gauge of market sentiment. While the grey market is not a regulated exchange, a high premium often correlates with an oversubscribed IPO. The BSE SME platform is designed to provide smaller and medium-sized enterprises with access to capital markets to fund their expansion.
“The company aims to raise Rs 160.33 crore on the BSE SME platform”
The significant gap between the issue price and the grey-market indicative price suggests that Millworks Technologies is entering the market with high momentum. If the listing premium holds, it reflects a bullish sentiment toward the company's growth prospects within the SME sector, though such premiums can be volatile until the official listing occurs.