Bengaluru-based precision engineering company Millworks Technologies Limited’s SME IPO has witnessed strong investor interest on the final day of bidding, with the issue getting subscribed over 62 times so far. The strong demand has also lifted the company’s grey market premium (GMP), with shares trading at a premium of around Rs 415 — a gain of nearly 125% over the upper issue price of Rs 331 per share. The robust grey market activity reflects positive investor sentiment ahead of the company’s upcoming BSE SME listing.
The Rs 160.34 crore Millworks Technologies IPO, which opened for subscription with an issue size of up to 48.44 lakh equity shares, witnessed total bids for nearly 62.68 times the shares on offer.
