Teamtech Formwork Solutions was incorporated on November 12, 2018. The company operates on a B2B model and specializes in manufacturing, refurbishing, and renting modular and customized T formwork systems used in the construction industry. It also provides design and technical support services, along with rental solutions that help customers reduce capital expenditure and extend product life
| Bidding Dates |
|---|
| 19 May 2026 - 21 May 2026 |
| Subscription |
|---|
| 6.59x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,44,000 | 2 | 2 | 2000 | 8.0 M | ₹61 - ₹63 | 59.67 % | ₹485.6 M - ₹501.5 M | RHP DOC |
Teamtech Formwork Solutions IPO SUBSCRIPTION STATUS
21 May '26Teamtech Formwork Solutions IPO overall subscription rate was 6.59 times the total available shares
Teamtech Formwork Solutions IPO retail subscription rate was 8.1 times in the retail segment
Teamtech Formwork Solutions IPO non-institutional investor subscription rate was 17.45 times in the non-institutional investor category
Teamtech Formwork Solutions IPO Qualified Institutional Bidder subscription rate was 2.28 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
21 May 2026 (Day 3) | 8.1x | 17.45x | 2.28x |
20 May 2026 (Day 2) | 0.95x | 1.25x | 0.35x |
19 May 2026 (Day 1) | 0.46x | 1.05x | 0.35x |
Teamtech Formwork Solutions FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 53.7 | 11.6 | 2.8 | 1.2 | 32.6% |
| FY25 | 32.7 | 7.8 | 5.7 | -5.1 | 28.3% |
| FY24 | 30.3 | 7.7 | 5.7 | 2.6 | 30.1% |
Teamtech Formwork Solutions IPO SUBSCRIPTION STATUS DETAILS
Teamtech Formwork Solutions had 8.0 M shares on offer
Teamtech Formwork Solutions IPO offer price was in the range ₹61 - ₹63
Teamtech Formwork Solutions IPO minimum Investment was ₹244000
Teamtech Formwork Solutions IPO issue size was ₹ 485.6 M - ₹ 501.5 M
Teamtech Formwork Solutions had a minimum lot size of 2000 Shares per application
Teamtech Formwork Solutions NUMBER OF SHARES ON OFFER
Teamtech Formwork Solutions IPO IMPORTANT DATES
| Issue Open Date | 19 May 2026 |
| Issue close Date | 21 May 2026 |
| Allotment Date | 22 May 2026 |
| Refund Date | 25 May 2026 |
| Demat Account Credit Date | 25 May 2026 |
| Listing Date | 26 May 2026 |
| Listing on Exchange(s) | NSE |
| Teamtech Formwork Solutions Allotment Status | Exchange/ Registrar |
Teamtech Formwork Solutions IPO subscription opened on 19 May 2026, and closed on 21 May 2026
IPO allotment for Teamtech Formwork Solutions was finalized on Friday, 22 May 2026
IPO listing for Teamtech Formwork Solutions was on NSE on Tuesday, 26 May 2026
Teamtech Formwork Solutions IPO LISTING GAINS
| Issue Price (adjusted) | 63.0 |
| Listing Open Price | 75.0 |
| Listing Close Price | 72.8 |
| Listing Gain% | 19.1% |
| Current Gain% | 83.8% |
Teamtech Formwork Solutions Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Teamtech Formwork Solutions Ltd. | 115.8 | 347.1 | 30 | 0.6 | 6.4 | 34.9 | 17.4 | 54.2 | 64.5 | 11.6 | 47.9 | 3.9 | 47.9 |
| Midwest Ltd. | 1197 | 4328.4 | 41.3 | -2.9 | 6.7 | 10.9 | 7.7 | 659.8 | 2.6 | 104.8 | -14.4 | 29 | -14.4 |
| Shankara Buildpro Ltd. | 1336.2 | 3240.2 | 24.7 | 0.2 | 0.5 | 23.4 | 8 | 6827.1 | 29.6 | 127.7 | 63.4 | 54.1 | 114.3 |
| Pokarna Ltd. | 986.6 | 3058.9 | 32.2 | -0.7 | 5.2 | 9.4 | 5 | 593.7 | -37.6 | 80.6 | -57 | 30.6 | -48.1 |
| Ramco Industries Ltd. | 339.6 | 2949.6 | 9.6 | 0.1 | 1.7 | 6.8 | 6.2 | 1807.3 | 7.9 | 306.3 | 69.3 | 35.3 | 69.3 |
| Arisinfra Solutions Ltd. | 132.4 | 1083.1 | 16.3 | 0 | 0.9 | 7.1 | 5.1 | 1080 | 38.1 | 52.7 | 2452.3 | 8.1 | 9720.6 |
Teamtech Formwork Solutions INFORMATION ON IPO ISSUE
About Teamtech Formwork Solutions
Teamtech Formwork Solutions was incorporated on November 12, 2018. The company operates on a B2B model and specializes in manufacturing, refurbishing, and renting modular and customized T formwork systems used in the construction industry. It also provides design and technical support services, along with rental solutions that help customers reduce capital expenditure and extend product life
Object of the Issue
- Funding of capital expenditure towards purchase of plant and machineries for expansion of new manufacturing unit
- Repayment/prepayment of all or certain of the borrowing availed by the company
- To meet the company’s fresh working capital requirements in line with its projected business growth and operational needs
- General corporate purposes
Teamtech Formwork Solutions - PROMOTERS
| Name |
|---|
| Eldo Varghese |
| Chaitanya Prakash Kotagiri |
| Salinraj Kunnummal |
Teamtech Formwork Solutions - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Eldo Varghese | Chairman & Managing Director |
| Chaitanya Prakash Kotagiri | Whole Time Director |
| Salinraj Kunnummal | Non-Executive Director |
| Swati Adlakha | Independent Director |
| Kanak Singh Choudhary | Independent Director |
Teamtech Formwork Solutions Book Running Lead Manager
Getfive Advisors Private Limited
investor.grievance@getfive.in
Teamtech Formwork Solutions Registrar to the issue
KFin Technologies Limited
teamtech.ipo@kfintech.com
Teamtech Formwork Solutions Strengths
Integrated business model
The company follows an integrated business model that includes manufacturing, refurbishment, and rental of modular T formwork systems to meet diverse customer needs. Its refurbishment and rental operations support asset reuse and recurring revenue, while manufacturing ensures supply of new systems based on project demand
Engineering & technical capabilities
The company’s in-house engineering team provides formwork design, layout planning, and technical support using specialized software for project execution and material planning. These capabilities help deliver project-specific solutions and improve coordination with customers and site operations
Diversified revenue streams
The company generates revenue from multiple streams, including manufacturing, refurbishment services, rental income, and sale of formwork accessories. This diversified model helps serve varied customer requirements while reducing dependence on a single source of income
Teamtech Formwork Solutions Risks
Working capital intensive
The company’s operations are working capital intensive due to significant upfront spending on raw materials, manufacturing, and refurbishment activities. Any shortfall in funding or increased reliance on external borrowings could impact its operations, growth plans, cash flows, and financial condition
Operational risks
The company’s operations depend on the continuous functioning of its processing facilities, making it exposed to risks such as machinery breakdowns, power disruptions, labour issues, and natural disasters. Any prolonged operational disruption could adversely affect product supply, customer relationships, and financial performance, although no material disruptions have been experienced so far
Regulatory risks
The company’s operations are subject to stringent environmental, health, and safety regulations, which may lead to increased compliance costs and capital expenditure. Any failure to comply with applicable laws could result in penalties, operational disruptions, legal liabilities, and reputational damage, adversely affecting its business and financial performance
IPO FAQs
The promoters of the company are Eldo Varghese, Chaitanya Prakash Kotagiri and Salinraj Kunnummal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 61.0 - 63.0.
The IPO application opens on May 19, 2026 and closes on May 21, 2026.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 244,000.0, the maximum value for this IPO is Rs 252,000.0.
This IPO will be allotted on May 22, 2026.
The refund will be credited to your account on May 25, 2026.
The allotted shares will be credited to your demat on May 25, 2026.
Teamtech Formwork Solutions Ltd.’s shares listed on the stock exchanges on May 26, 2026.