New Delhi, July 13 -- The initial public offering (IPO) of precision engineering company, Millworks Technologies, is set to open for public subscription on Tuesday, 14 July. The SME IPO is hogging the limelight in the grey market as the grey market premium (GMP) of Millworks Technologies shares hints at an over 100% listing gain.

As per grey market sources, Millworks Technologies IPO GMP on Monday (13 July) morning was Rs.395. This indicated the stock could list at Rs.726 on the BSE SME, a premium of 119% over the issue price.

Millworks Technologies IPO is a book build issue, entirely a fresh issue of 48,44,000 shares. With a price band of Rs.315 to Rs.331 per share, the issue is aimed at raising Rs.160.35 crore, which the company wants...