Milestone Gears IPO Description – Milestone Gears is a manufacturer of high-precision engineered transmission components used across multiple industrial segments such as tractors, construction equipment, electric vehicles (EVs), locomotives, windmills, and other heavy industries. Its product portfolio includes bull gears, transmission gears and shafts, rear axles, internal ring gears, rock shafts, induction hardened shafts, bevel gears, and ground gears, making the company a one-stop supplier for transmission components.
As of June 2025, the company had a portfolio of over 700 active parts, including several single-source components exclusively procured by OEM customers, highlighting its engineering capabilities and long-standing client relationships. The company commands meaningful market share in the Indian tractor component segment, including ~37% share in bull gears, ~30% in internal ring gears, ~23% in rock shafts and induction hardened shafts, and ~22% in rear axles by volume. The company has nine facilities across Punjab, Haryana, and Himachal Pradesh. The firm serves more than 50 OEM customers globally, while also exporting to 10 international markets. As of 30 June 2025, the company had 1,417 permanent employees and 2,038 contractual employees.
Promoters of Milestone Gears – Mr. Ashok Kumar Tandon and Mr. Aman Tandon
Milestone Gears IPO Details
| Milestone Gears IPO Dates | Coming soon |
| Milestone Gears Issue Price | Coming soon |
| Fresh Issue | INR 800 crore |
| Offer For Sale | INR 300 crore |
| Total IPO Size | INR 1,100 crore |
| Minimum Bid (Lot Size) | Coming soon |
| Pre-issue Shares | 9,00,00,000 shares |
| Face Value | INR 2 per share |
| Listing On | NSE, BSE |
Milestone Gears IPO Allocation in Different Categories
Milestone Gears Financial Performance
| FY 2023 | FY 2024 | FY 2025 | Q1 FY 2026 | |
| Revenue | 612.94 | 533.32 | 530.17 | 168.03 |
| Expenses | 597.12 | 525.64 | 520.34 | 155.92 |
| Net Income | 14.07 | 6.72 | 22.06 | 9.36 |
| Margin (%) | 2.30 | 1.26 | 4.16 | 5.57 |
Milestone Gears Offer News
Milestone Gears Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre-Issue) | FY 2026* (Post-Issue) | |
| EPS | 1.56 | 0.75 | 2.45 | – |
| PE Ratio | – | – | – | – |
| Price/Sales Ratio | – | – | – | – |
| Price/Book Ratio | – | – | – | – |
| Current Ratio | 1.09 | 0.93 | 0.86 | 0.86 |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | 14.54 | 6.46 | 17.47 |
| NAV | 10.75 | 11.57 | 14.03 |
| ROCE (%) | 10.18 | 9.04 | 12.23 |
| EBITDA (%) | 12.53 | 13.23 | 18.16 |
| Debt/Equity | 3.49 | 3.23 | 3.23 |
Evaluate the quality of an IPO using these essential investing ratios to make an informed decision.
Milestone Gears IPO Anchor Investors
Milestone Gears raises () from anchor investors. Milestone Gears Anchor bid date is ().
| Bid Date | Coming soon |
| Shares Offered | Coming soon |
| Anchor Portion (INR Cr.) | Coming soon |
| Anchor lock-in period end date for 50% shares (30 Days) | Coming soon |
| Anchor lock-in period end date for remaining shares (90 Days) | Coming soon |
Milestone Gears IPO GMP Today (Daily Trend)
Milestone Gears Offer Objectives
The company proposes to utilize net proceeds from the issue towards the following objects:
- Repayment/prepayment, in full or in part, of certain outstanding borrowings and accrued interest thereon availed by the company – INR 356.86 crore
- For proposed greenfield project – INR 296.42 crore
- General Corporate Purposes
Milestone Gears IPO Subscription – Live Updates
Coming soon
() shares allotted to anchor investors are not included in these calculations.
Milestone Gears – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Milestone Gears | – | 2.45 | 17.47 | 14.03 | 530.17 |
| Bharat Forge | 69.93 | 20.05 | 12.10 | 192.86 | 15,122.80 |
| Sona BLW Precision | 49.38 | 9.92 | 17.70 | 90.79 | 3,546.02 |
| Happy Forgings | 35.38 | 28.37 | 15.40 | 196.25 | 1,408.90 |
Milestone Gears IPO Allotment Status
You can check Milestone Gears IPO allotment status on Kfin Technologies’ website. Click on this link to get the allotment status. Often not getting IPO allotment? Learn how to improve your IPO allotment chances.
Milestone Gears IPO Dates & Listing Performance
| IPO Opening Date | Coming soon |
| IPO Closing Date | Coming soon |
| Finalization of Basis of Allotment | Coming soon |
| Initiation of refunds | Coming soon |
| Transfer of shares to demat accounts | Coming soon |
| Milestone Gears IPO Listing Date | Coming soon |
| Opening Price on NSE | Coming soon |
| Closing Price on NSE | Coming soon |
Milestone Gears IPO Reviews – Subscribe or Avoid?
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Milestone Gears IPO Lead Manager
JM FINANCIAL LIMITED
7th Floor, Cnergy Appasaheb Marathe Marg
Prabhadevi, Mumbai 400 025, Maharashtra, India
Tel: +91 22 6630 3030
E-mail: [email protected]
Website: www.jmfl.com
Milestone Gears Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com
MILESTONE GEARS LIMITED
KK-11,12 & 13, HSIIDC Industrial Estate,
Kalka – 133 302, Haryana, India
Phone: +91 1733 218212
Email: [email protected]
Website: www.milestonegroup.co.in
IPO Resources
How many shares in Milestone Gears IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply in Milestone Gears Public Offer?
What is Milestone Gears IPO GMP today?
Milestone Gears IPO GMP today is INR NA per share.
What is Milestone Gears kostak rate today?
Milestone Gears kostak rate today is INR NA per application.
What is Milestone Gears Subject to Sauda rate today?
Milestone Gears Subject to Sauda rate today is INR NA per application.
